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Trafigura statement for the Operation Car Wash issue, Brazil

13 December 2018 - On Wednesday 5th December 2018, the Brazilian authorities announced to the media that as part of the 57th phase of "Operation Car Wash" they are investigating whether payments (which they allege have been made on behalf of numerous trading companies, including Asphaltos Trade, Chemium, Chemoil, Glencore, Mercuria, Oil Trade and Transport, Trafigura, Vitol and World Fuel Services) were made to individuals to obtain improper advantages from the Brazilian company Petrobras.

Trafigura’s Rio office was visited on the 5th December 2018 by members of the Brazilian authorities. No company property was taken and no current Trafigura employees have been detained.

We have not been contacted by the Brazilian authorities prior to this visit, and are now in discussions to understand their requirements. We are taking these allegations seriously and are carefully reviewing any information available. The suggestion that Trafigura’s current management knew that payments to an intermediary would be used to make improper payments to employees of Petrobras is not correct.

Our businesses in Brazil are continuing to operate on an uninterrupted basis. Globally Trafigura engages in hundreds of transactions every day. The turnover in 2017 was USD 136bn, with our turnover in Brazil that year amounting to approximately USD 300m. Trafigura has a zero tolerance policy on bribery and corruption.