Petrobras to Pay $184M to Pension Fund to Settle Sete Brasil Dispute

July 30, 2020

Illustration; A drilling rig in Brazil - Image by lazyllama/AdobeStock
Illustration; A drilling rig in Brazil - Image by lazyllama/AdobeStock

Brazilian state-controlled oil producer Petrobras has agreed to pay 950 million reais ($184 million) to its pension fund Petros to settle a dispute over investments at drillship company Sete Brasil, the company said in a filing on Wednesday.

Petroleo Brasileiro SA, as the Rio de Janeiro-based company is formally known, said the agreement with no recognition of guilt was approved [Wednesday] by the board of directors and ends an arbitral litigation opened by Petros. 

($1 = 5.1700 reais) 

(Reporting by Sabrina Valle; Editing by Sandra Maler)




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