Brazil's Petrobras to make $622 mln provision to pay Vantage- filing

Reuters

Thu, Feb 7, 2019, 4:51 PM

In this article:

SAO PAULO, Feb 7 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA said on Thursday it will make a $622 million provision to pay for an arbitration decision in favor of U.S.-based Vantage Deepwater Co.

Vantage won the decision against Petrobras last year after the Brazilian company cancelled an exploration contract in the Gulf of Mexico that had been awarded in exchange for kickbacks related to the wider "Car Wash" corruption probe. (Reporting by Tatiana Bautzer; Editing by Christian Plumb)

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Brazil's Petrobras to make $622 mln provision to pay Vantage- filing

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