Petrobras Receives R$1.025bn Contingent Payment from Petro Rio

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HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Jan.2025) — Petrobras received R$1.025bn in a contingent payment (earnout) related to the oil barrel price for the 2024 fiscal year from Petro Rio Jaguar Petróleo S.A. (PRIO), a subsidiary of PRIO S.A.

The payment is in accordance with terms of the agreement negotiated between the 2 companies regarding divestment of Petrobras’ entire stake in the Albacora Leste field to PRIO, Petrobras said 31 Jan. 2025 in an official statement. 

This is the second and final installment of the contingent payment for the sale of Albacora Leste, located in the Campos Basin deep waters . On 31 Jan. 2024, Petrobras received the first installment for R$295mn, related to the oil barrel price for the 2023 fiscal year.

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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved. 

ENERGY ANALYTICS INSTITUTE (EAI) https://energy-analytics-institute.org

Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.

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