Petrobras Settles U.S. Court Dispute with EIG for $283 Million

Posted On: March 9, 2025
Posted By: Sofia Martinez
Comments: 0

Petrobras has agreed to settle a U.S. court dispute with EIG Energy Fund XIV, involving a $283 million payment. This amount is provisioned in its earnings related to EIG’s investment in FIP Sondas, a former shareholder in Sete Brasil.

Petrobras, the Brazilian state-run oil company, has received approval from its board to settle a dispute in a U.S. court with EIG Energy Fund XIV. This settlement entails a payment of $283 million from Petrobras. The company confirmed that this amount has already been provisioned in its earnings, indicating financial preparedness for this liability.

The lawsuit centers around EIG’s investment in FIP Sondas, which was previously a shareholder in Sete Brasil, a drillship company. The pending dispute was significant enough for Petrobras to take proactive measures in its financial reporting and management.

In conclusion, Petrobras has taken a decisive step in settling its legal dispute with EIG Energy Fund XIV by agreeing to a $283 million payment. This financial commitment, already accounted for in its earnings, underscores the company’s strategic approach to managing liabilities in light of EIG’s previous investment in FIP Sondas.

Original Source: money.usnews.com

Sofia Martinez

Sofia Martinez has made a name for herself in journalism over the last 9 years, focusing on environmental and social justice reporting. Educated at the University of Los Angeles, she combines her passion for the planet with her commitment to accurate reporting. Sofia has traveled extensively to cover major environmental stories and has worked for various prestigious publications, where she has become known for her thorough research and captivating storytelling. Her work emphasizes the importance of community action and policy change in addressing pressing global issues.