February 11, 2020 / 12:11 PM / 7 days ago

Brazil's Petrobras gets favorable ruling in dispute against Sete Brasil

SAO PAULO, Feb 11 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA has received a favorable arbitration ruling in a dispute against oil rig builder Sete Brasil Participações, it said in a securities filing on Tuesday

The ruling allows the company to reverse a provision of 1.3 billion reais ($300.63 million) related to litigation against Sete Brasil that was made in the fourth quarter of 2019, the filing said. ($1 = 4.3242 reais) (Reporting by Ana Mano, editing by Louise Heavens)

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