Prosecutors in Brazil said on Wednesday former Petrobras executive Renato Duque had unfairly favored Italy's Saipem SpA on a contract for an undersea gas pipeline for the Lula and Cernambi offshore subsalt fields.
Italian oil contractor Saipem is working with Bain & Company to draw up a restructuring plan to help it cut costs and counter falling oil prices that have sapped its order book and stretched its balance sheet, three sources said.
Russia's plans to drop Ukraine eventually as a route for piping its natural gas to Europe have hit a snag after Russian gas exporter Gazprom called off a deal with Italy's Saipem to build a subsea link to Turkey.
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