Precautionary blocking of Petrobras suppliers (December 2014) and its stated effects

On December 29, 2014, Petrobras's Executive Board created sanction analysis committees (CAASE) and ordered the precautionary blocking of companies from 23 economic groups named as participants in a cartel in testimony by Paulo Roberto Costa, Alberto Youssef, and the cooperating witnesses of Toyo Setal and Setal, to which the company had access on December 3, 2014.

Excerpt: “The referred to companies will be temporarily banned from being contracted and from taking part in bids by Petrobras.”

Source: Petrobras — Form 6-K (comunicado de 29/12/2014): comissões CAASE e bloqueio cautelar de empresas — Petróleo Brasileiro S.A. — Petrobras (SEC), Dec. 29, 2014 · 6-K of December 30, 2014 (statement of December 29, 2014), numbered list 1–23 · open original ↗

Release (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: Inclusion on the list is based on testimony and is not a conviction of the companies. The company justifies the measure as protection against damage that is hard to repair financially and to its image.

Petrobras's own counts vary: 23 groups in the statement of December 29, 2014; 24 groups in the 2014 20-F; 32 companies from 23 groups in 2014, plus two more companies in 2015, three with the restriction lifted and 31 still suspended, according to the 2015 20-F.

Source: Petrobras — Form 20-F do exercício de 2015 — Petróleo Brasileiro S.A. — Petrobras (SEC), Apr. 28, 2016 · Item 3 – Risk Factors (suppliers); 2014 20-F, Item 3 – Risk Factors · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: Conflict between counts: 23 vs. 24 groups between the statement and the 2014 20-F; 'companies' versus 'groups'. Not resolved.

The 2014 20-F reports that, as a consequence of Lava Jato, several Brazilian contractors and suppliers were unable to obtain financing and faced liquidity and bankruptcy concerns that could affect their continuity as key suppliers; the company also cited the scarcity of qualified contractors and suppliers.

Source: Petrobras — Form 20-F do exercício de 2014 (demonstrações auditadas, nota 3 sobre a Lava Jato) — Petróleo Brasileiro S.A. — Petrobras (SEC), May 15, 2015 · Item 3 – Risk Factors (suppliers); note 14 (circumstances of the impairment test) · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: The company's risk statement; it does not identify companies or quantify the impact on each project. The 20-F does not separate the effect of the precautionary blocking from the effect of the lack of credit.

The 2015 20-F states that the local content requirement, together with the temporary suspension of many local suppliers, could cause delays in major projects if Petrobras were unable to replace Brazilian suppliers in a timely manner.

Source: Petrobras — Form 20-F do exercício de 2015 — Petróleo Brasileiro S.A. — Petrobras (SEC), Apr. 28, 2016 · Item 3 – Risk Factors (local content) · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

The 2016 20-F reports that Petrobras temporarily suspended companies from taking part in new bidding processes in Lava Jato, points to the risk of new suspensions, and describes the integrity due diligence analysis and the classification of suppliers by integrity risk grade (GRI).

Source: Petrobras — Form 20-F do exercício de 2016 — Petróleo Brasileiro S.A. — Petrobras (SEC), Apr. 27, 2017 · Item 3 – Risk Factors; Item 16 – compliance (integrity due diligence) · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

In the 2015–2019 plan statement, Petrobras reported that production targets were updated due to postponements of less mature projects and delays in the delivery of production units, largely because of limitations of Brazilian suppliers.

Excerpt: “largely due to limitations of Brazilian suppliers”

Source: Petrobras — Form 6-K (29/06/2015): Plano de Negócios e Gestão 2015–2019 — Petróleo Brasileiro S.A. — Petrobras (SEC), June 29, 2015 · 6-K of June 29, 2015, section 'Oil, NGL and Natural Gas Production Curve' · open original ↗

Release (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: The statement does not name suppliers or say how much of the limitations results from Lava Jato.

eixos reported that on July 6, 2018 Petrobras approved an integrity commitment agreement with Odebrecht, which would allow the lifting of the precautionary blocking of Odebrecht Engenharia e Construção (subject to reassessment after completing improvements) and of Ocyan (with reassessment of the risk grade upon signing).

Source: Três anos de bloqueio cautelar da Petrobras: quem entrou, quem saiu e quem nunca entrou — eixos, July 6, 2018 · text of the report · open original ↗

News report · excerpt examined · accessed on Oct. 24, 2026

Limitations: Petrobras's primary statement not located. The report groups other cases of lifting that I did not detail. Current list of companies still blocked not located.