SALVADOR, BRAZIL (Pedro Silva, Energy Analytics Institute, 6.Jun.2025, Words: 165) — Brazil’s state-owned Petrobras has been served in a lawsuit filed by Sete Brasil Participações S.A. and its subsidiaries (SPEs), seeking, in general terms, compensation for alleged losses related to the Projeto Sondas or drilling rigs project. The amount unilaterally […]
Tag: Sete Brasil
Petrobras to Pay $283mn to EIG Energy to Settle Sete Brasil Lawsuit
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 7.Mar.2025) — Petrobras‘ Board of Directors approved the settlement agreement to resolve the lawsuit with EIG Energy Fund XIV, LP and others. Under the terms of the agreement, Petrobras will pay $283mn, while EIG will request the dismissal of the lawsuit and release […]
Petrobras On Deal With Sete Brasil
(Petrobras, 26.Jan.2021) — Petrobras, following up on the release disclosed on 12 November 2020, informs it has received a notification from the Sete Brasil in which: (a) it indicates that will not comply with certain conditions set forth in the agreement that should be fully met by 31 January 2021; […]
Petrobras Closes Equity Interest In Sete Brasil Group
(Petrobras, 30.Dec.2020) — Petrobras, following up on the release disclosed on 20 December 2019, informs that its Dutch subsidiary Petrobras Netherlands B.V. transferred, today, to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15% that it held in each of the […]
Petrobras On Deal In Arbitration Of Sete Brasil
(Petrobras, 17.Dec.2020) — Petrobras informs that, on this date, the payment of R$190mn was made to the Pension Fund of the Employees of the Bank of Brazil – Previ, due to the agreement that ended the arbitration litigation proposed by Previ in order to obtain compensation from Petrobras for alleged […]
Petrobras Board Approves Deadline For Sete Brasil Deal
(Petrobras, 12.Nov.2020) — Petrobras, following up on the release disclosed on 28 September 2020, announced its Executive Board approved a new change in the deadline for certain conditions set forth in the agreement signed with Sete Brazil to be implemented. The effectiveness of the agreement and of the other related […]
Petrobras Comments On Deal With Sete Brasil
(Petrobras, 28.Sep.2020) — Petrobras, following up on the release disclosed on 24 June 2020, informs that its Executive Board approved a second alteration to the deadline for certain precedent conditions set forth in the agreement with Seven Brazil to be implemented. Thus, the effectiveness of the agreement and other related […]
Petrobras Pays R$950mn In Sete Brasil Dispute
(Petrobras, 10.Aug.2020) — Petrobras, following up on the release dated 29 July 2020, informs it paid Fundação Petrobras de Seguridade Social (Petros) R$ 950 million, regarding the full amount of the agreement with Petros on the arbitral dispute related to the investment in Sete Brasil. The agreement extinguished the dispute […]
Petrobras On Deal With Sete Brasil
(Petrobras, 24.Jun.2020) — Petrobras, following up on the release disclosed on December 20, 2019, informs that its Executive Board approved a change in the deadline for certain conditions set forth in the agreement with Sete Brasil to be implemented. Therefore, the effectiveness of the agreement and of the other related […]
Petrobras On Sete Brasil Arbitration
(Petrobras, 1.Apr.2020) — Petrobras entered into a settlement agreement to end an arbitration filed by an investor in Sete Brasil Participações S.A. – under judicial reorganization, seeking compensation from Petrobras for alleged damages related to its investment in the Sondas Project. In the 1Q2020 Petrobras will revert a provision of […]
Petrobras On Arbitration Involving Sete Brasil
(Petrobras, 11.Feb.2020) — Petrobras informs about a favorable arbitration award to the company, which rejected a claim made by an investor in Sete Brasil Participações S.A. (in reorganization), in arbitration proceedings seeking compensation from Petrobras for alleged damages related to their investment in the Sondas Project. Due to the favorable […]
Petrobras Informs About Provisioning
(Petrobras, 18.Oct.2019) — Petrobras informs that, within its ongoing process of contingencies assessment, it will provision R$ 3.2 billion as a result of: (i) litigation involving the company Sete Brasil, (ii) environmental process in the state of Paraná; and (iii) disputes on special participation and royalties involving the National Agency […]
Petrobras Updates On Provisioning
(Petrobras, 18.Oct.2019) — Petrobras informs that, within its ongoing process of contingencies assessment, it will provision R$ 3.2 billion as a result of: (i) litigation involving the company Sete Brasil, (ii) environmental process in the state of Paraná; and (iii) disputes on special participation and royalties involving the National Agency […]
Petrobras Sets Aside R$1.3bn For Litigation Involving Sete Brasil
(Petrobras, 25.Apr.2019) — Petrobras informs, within its ongoing process of assessment of contingencies, that it will provision R$ 1.3 billion as a result of the current stage of litigation involving the company Sete Brasil. The company, which is a victim of the facts verified by Operation Car Wash, continues defending […]
Petrobras Updates on Leasing of Rigs
(Petrobras, 15.Sept.2015) – In regard to the news items carried by the press concerning the leasing of oil rigs, Petrobras cannot confirm that it is about to sign a 15-year lease covering 19 oil rigs, amounting to $40 billion. As indicated on 9.Sep.2015, Petrobras currently has 28 leasing contracts for […]
Petrobras’ Clarification on Drilling Rigs
(Petrobras, 10.Sep.2015) – Currently, Petrobras has 28 contracts with Sete Brasil to charter drilling rigs. Charter contracts for 7 of the rigs were signed in Jun.2011 and the remaining 21 rigs were signed in Aug., totalling $89 bln. The 28 drilling rigs are scheduled to be delivered at different times: […]