Brazil's Petrobras confirms $700 mln payment due to arbitration

Vantage Drilling

21/06/2019 23:01

SAO PAULO, June 21 (Reuters) - Brazil's state-controlled oil
company Petróleo Brasileiro SA  PETR4.SA  confirmed on Friday it
had made a $700 million payment related to an arbitration ruling
and a lawsuit by U.S.-based Vantage Drilling Company  VTGDF.PK .
    Vantage had said earlier it received the payment from two
Petrobras subsidiaries in a case that had an arbitration ruling
in 2018. urn:newsml:reuters.com:*:nL2N1VK0JS Petrobras said it paid the amount to be
able to lift some asset freeze, but added that the payment does
not end the litigation.

 (Reporting by Marcelo Teixeira)
 ((marcelo.teixeira@tr.com; +55 11 5644 7707; Reuters Messaging:
marcelo.teixeira.thomsonreuters.com@reuters.net - https://twitter.com/tx_marcelo))