Petrobras on Addendum to the TCC for Gas Sign with CADE

Instant Max AI Immediate Frontier Immediate Spike

(Petrobras, 3.Jul.2024) — Petrobras, in continuity to the Material Fact disclosed on May 22, 2024, informs that the Court of the Administrative Council for Economic Defense (CADE) and Petrobras signed an addendum to the Terms of Cessation Commitment (”TCC”) for Gas, signed on 8 July 2019.

As announced by Petrobras, the addendum results from extensive debates between the technical areas of Petrobras and CADE and culminated in the cessation of the obligation to sell TBG, within the scope of the TCC, establishing new commitments.

All Administrative Inquiries will remain suspended until full compliance with obligations has been achieved, when they will be archived.

The validity of the terms agreed in the Addendum to TCC Gas coincides with the independence certificate issued for TBG, or until 4 March 2039, the deadline established in article 5, paragraph 4, of the New Gas Law, which set this deadline as the limit for the de-verticalization of transport companies.

Petrobras reaffirms its respect for the antitrust authority and the agreements signed, thus preserving the country’s business environment.


Previous post SLB and TotalEnergies Announce 10-year Partnership
Next post Kosmos Starts Oil Production at Winterfell in the U.S. GOM