Novonor (Formerly Odebrecht) And Petrobras Resolve Issues Through Signing Of Closure Agreement (TEP)

The Termination Of Pending Issues (TEP) Aims To Conclude Four Contractual Issues Between Petrobras And The Former Odebrecht, Now Novonor

On March 31, the Petrobras board of directors approved the signing of the Termination Of Pending Issues (TEP) with Novonor, which is the former Odebrecht. This term aims to definitively resolve four contractual disputes through payment of amounts by Novonor to the state-owned company. Among them, three were undergoing discussion in arbitration proceedings.

According to the virtual news outlet Broadcast, Petrobras – which is in the process of negotiating oil fields – stated that it plans, upon signing the TEP, to regularize the effects for both companies resulting from the leniency agreement signed in 2018 by entities participating in the Novonor Group with the Comptroller General of the Union and the Attorney General’s Office.

In this regard, Petrobras states: “Petrobras will proceed with the actions of administrative improbity against companies of the Novonor/Odebrecht Group, seeking full restitution of the damages identified due to the illicit acts revealed by Operation Lava Jato, but, in honoring the Leniency Agreements, while they are in effect, will not seek punitive or precautionary measures against these companies.”

Furthermore, the Termination Of Pending Issues (TEP) also estimates that signing it does not exempt the companies within the Novonor Group from being subjected to the process of analyzing the requirements to act in the supplier registry or participate in Petrobras’s competitive admission procedures, including integrity.

On the other hand, the state company advised that its affiliate Petrobras Netherlands BV (PNBV) also sign the TEP with the shipyard Enseada Indústria Naval, also belonging to the Novonor Group, to settle the litigation between the companies.

Oil: Petrobras And PetroRio Discuss Negotiations Of Albacora And Albacora Leste; With The Sale Of The Second Field More Advancing

Petrobras is undergoing a process of bilateral negotiations with PetroRio to sell the oil fields of Albacora and Albacora Leste since November of last year. The transaction in question may end up being one of the last divestments – a step the company has taken with many mature fields – broad moves from Petrobras before the presidential elections in October. On the other hand, this would also be a significant and transformative deal for PetroRio, which is headquartered in Rio de Janeiro.

Thus, according to information from Reuters published by InfoMoney, PetroRio, which has innovated with a systemfor generating gas energy, is showing signs of agreeing to the terms of Petrobras’ deal for acquiring the Albacora Leste field. However, regarding the Albacora field, the rumors are more discouraging, as discussions about it are proving to be more complex. Both Petrobras and PetroRio declined to comment on the negotiations. To learn more about business between the state company and other firms, such as Novonor, click here and read the full article.

Due To The Controversies Surrounding Fuel Prices, Government Decides To Dismiss Joaquim Silva And Luna, President Of Petrobras. A New Person To Hold The Position Has Already Been Chosen

On the afternoon of Monday, March 28, President Jair Bolsonaro decided to dismiss Joaquim Silva And Luna, president of Petrobras. According to information from the newspaper O Globo, the reason for the decision, which has already been mentioned previously as a possibility, is the pressure that the state company is under due to increases in fuel prices.

In recent weeks, the adjustment of fuel prices at refineries was responsible for the price of gasoline to increase by 18.7%, and diesel by 24.9%. In this context, from February 2021 to February 2022, the IPCA for fuels, that is, the main inflation indicator in the country, saw a jump of 33%. Gasoline increased by 32%, ethanol by 36%, and diesel by 40%, corresponding to values far exceeding the general index, which stands at 10.54%. Finish the reading this other article from CPG by clicking this link.