Petrobras has reached a settlement agreement in a legal dispute with EIG Energy Fund XIV, agreeing to pay $283 million, which has been provisioned in its earnings. The case is linked to EIG’s investment in FIP Sondas, formerly connected to the drillship company Sete Brasil.
Petrobras, the Brazilian state-run oil company, has announced an agreement to settle a dispute in a U.S. court with EIG Energy Fund XIV, which involves a payment of $283 million. The settlement was approved by the company’s board and the financial provision for this contingency has been accounted for in Petrobras’ earnings reporting. This case pertains to EIG’s investment in FIP Sondas, a previous stakeholder in the drillship company Sete Brasil.
In summary, Petrobras has taken significant steps to resolve a legal dispute with EIG Energy Fund XIV by agreeing to a settlement of $283 million. This decision reflects the company’s commitment to managing its legal obligations and potentially stabilizing its financial outlook following previous legal challenges related to its investments.
Original Source: www.newsbreak.com
