Wednesday, December 13, 2017

Petrobras to Evaluate Court Edict on Total Deal

Posted by October 11, 2017

State-controlled oil company Petróleo Brasileiro SA on Wednesday said it has not been formally informed about a court decision to block part of its $2.2 billion deal with Total SA (TTFNF).
 

A federal judge in the Northeast state of Sergipe blocked the sale to the French oil major of stakes Petrobras has in two sub-salt oil blocks. Petrobras said in a securities filing it will evaluate the judge's decision when it is officially notified and will take action to defend its interests and those of its shareholders.

 

Reporting by Marcelo Teixeira 

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