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Petrobras (NYSE:PBR) signed an settlement with Brazil’s ANP oil regulator to finish authorized proceedings involving the recalculation of presidency shares on oil manufacturing within the Jubarte area in periods starting from 2009 to 2015, in keeping with a Brazil securities submitting issued Tuesday.
The deal includes fee of 832.4M reais (~$167.7M), to be paid in an preliminary installment of 35% and the stability in 48 installments.
Separately, Petrobras (PBR) CEO Jean Paul Prates stated Tuesday that the corporate plans to increase its refining capability by 25% over the subsequent 4 years.
Prates, talking on the sidelines of the India Energy Week occasion in Goa, additionally stated Petrobras (PBR) shouldn’t be affected by transport disruptions within the Red Sea because it doesn’t use these routes.