Petrobras has settled a U.S. court dispute with EIG Energy Fund XIV for $283 million, with this amount already provisioned in its earnings. The dispute pertains to EIG’s investment in FIP Sondas, former shareholder of Sete Brasil.
Brazil’s state-run oil company, Petrobras, has reached an agreement to resolve a U.S. court dispute with EIG Energy Fund XIV, which includes a $283 million payment. The decision was approved by Petrobras’ board on Friday. This financial settlement has already been provisioned in Petrobras’ earnings, indicating their anticipation of this outcome. The dispute concerns EIG’s investment in FIP Sondas, a former stakeholder in the drillship company Sete Brasil.
In conclusion, Petrobras’ settlement agreement with EIG Energy Fund XIV marks a significant step in resolving their court dispute. The $283 million settlement, which has been accounted for in Petrobras’ earnings, reflects the company’s proactive financial management in dealing with legal challenges related to its past investments.
Original Source: money.usnews.com
