Petrobras on Arbitration Involving Sete Brasil

Source: www.gulfoilandgas.com 8/10/2020, Location: South America

Petrobras, following up on the release dated July 29, 2020, informs that it paid Fundação Petrobras de Seguridade Social (Petros) R$ 950 million, regarding the full amount of the agreement with Petros on the arbitral dispute related to the investment in Sete Brasil.

The agreement extinguished the dispute without acknowledgment of guilt or liability by both parties and does not affect other lawsuits or arbitrations involving the parties, as well as other disputes involving the investment in Sete Brasil.

Finally, Petrobras remains in defense of its interests in the ongoing proceedings.


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