Wednesday, November 14, 2018

Brazil Court Blocks $892.7 mln from SBM Related to Petrobras Contracts

Posted by July 6, 2018

A Brazilian federal court ruled that state-run oil company Petroleo Brasileiro SA can subtract $892.7 million it owes in future fees to Dutch group SBM to cover fines and damages it has been ordered to pay Petrobras for its role in a graft scheme, according to a written statement prosecutors released on Friday.

Under a lawsuit filed against companies in the Dutch group, federal prosecutors calculated losses incurred by Petrobras under the scheme amounted to $303 million.

Reporting by Ana Mano

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