Petrobras Informs About Agreement with Sete Brasil

Source: 1/26/2021, Location: South America

Petrobras, in continuation of the communique released on November 12, 2020, informs that it has received notification from Sete Brasil in which: (a) it indicates that it will not be possible to comply with certain precedent conditions, provided for in the agreement and that should be fully met by the day 1/31/2021; and (b) requests the start of a new negotiation with Petrobras.

Thus, in view of this scenario and in search of a joint solution, considering that the agreement will not produce the expected effects, Petrobras' Executive Board authorized the beginning of a new negotiation with Sete Brasil.

The company will keep the market informed about the eventual result of the negotiation.

Gulf Oil and Gas
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