A Review of the Nigerian Energy Industry

Brazil’s Petrobras says not notified about potential arbitration claim

Brazil's Petrobras says not notified about potential arbitration claimSao 07 February 2019, Sao Paulo — Brazilian oil major Petroleo Brasileiro SA said in a securities filing on Wednesday that it has not been notified about a potential claim filed by a group of minority investors at a local arbitration court.

The claim by a local minority shareholders’ association seeks compensation for the loss of value in Petrobras shares resulting from the corruption scheme revealed in the so-called Car Wash probe, financial paper Valor reported.

Petrobras said in the filing that it was a victim of the scheme and has already recovered more than 3.2 billion reais ($866.6 million) in losses related to the scam. ($1 = 3.6924 reais)

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