Petrobras signed an agreement with Brazilian oil regulator known as ANP to end legal proceedings involving recalculation of government shares on oil production in Jubarte Field during periods of Aug. 2009-Feb. 2011 and Dec. 2012-Feb. 2015, according to a filing.
- Agreement involves payment of 832.4m reais to be corrected until the date of payment of the initial installment
- Amount will be paid in an initial installment of 35% and the remainder in 48 installments adjusted by the Selic rate, Petrobras said
- Payment is provisioned in Petrobras’ 3Q 2023 earnings report, according to the statement
To see the source of this ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.