Petrobras Settles U.S. Court Dispute with EIG for $283 Million

Petrobras will pay $283 million to EIG Global Energy Partners to settle a court dispute. This settlement has been approved by the Petrobras Board and is fully provisioned in their accounts, marking a notable resolution to this legal matter.

Brazilian oil company Petrobras has reached a settlement in a U.S. court case involving EIG Global Energy Partners. Under the terms of this agreement, Petrobras will pay $283 million to resolve the dispute amicably. The company announced that this amount is already accounted for in their financial provisions, affirming the decision has been approved by the Petrobras Board of Directors. This settlement marks a significant step in Petrobras’ resolution of legal challenges with EIG.

In summary, Petrobras has settled its U.S. court dispute by agreeing to pay $283 million to EIG Global Energy Partners. This outcome is viewed positively as it demonstrates Petrobras’ commitment to resolving legal matters while maintaining transparency with its financial stakeholders. The amount has been duly provisioned, ensuring that the company’s financial health remains stable.

Original Source: www.marketscreener.com