Petrobras to appeal Dutch ruling favorable to U.S. oil firm Vantage

Vantage Drilling

29/08/2018 14:28

SAO PAULO, Aug 29 (Reuters) - Brazil's state-run oil company
Petroleo Brasileiro SA  PETR4.SA  said on Wednesday it will
appeal an unfavorable Dutch court ruling related to the
suspension of a drilling contract with U.S.-based Vantage
Drilling Co  VTGDF.PK . 
    Petrobras said it was informed that a Dutch court had
granted a request by the U.S. oil services company to seize
shares of two subsidiaries, among other things.
    Petrobras said Vantage's arbitration proceedings against the
company relates to a contract that was canceled as part of "Car
Wash," a sweeping corruption probe into payment of bribes in
exchange for contracts.
    Petrobras said the Vantage contract was awarded "by way of
corruption," according to the findings of investigation.  
    "The company will seek all legal measures to overturn the
arbitration ruling and to defend its position," Petrobras said
in the securities filing, adding that it was a victim of the
scam. 
    On Monday, the Wall Street Journal said an Amsterdam court
had authorized Vantage Drilling to attach Petrobras assets in
the Netherlands in connection with the $622 million arbitration
case.  urn:newsml:reuters.com:*:nL3N1VI53E

 (Reporting by Ana Mano; editing by Jonathan Oatis)
 ((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob:
+55-119-4470-4529; Reuters Messaging:
ana.mano.thomsonreuters.com@reuters.net))