Petrobras Announces Receipt of $450 Million After Agreement with American Multinational UOP LLC

Written by Bruno Teles

Published on 19/01/2023 at 19:17

Petrobras anuncia recebimento de 450 milhões após acordo com multinacional americana (Foto/divulgação)

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The Payment Resulted from a Bribery Case in 2010 Involving the State Oil Company. Honeywell Illegally Paid a Member of the Brazilian Government US$4 Million to Secure a Contract with Petrobras.

Petrobras’ agreement is part of a global resolution. According to the oil company, the agreement was made with the Federal Auditor General and the Federal Attorney General. The measure “is part of a global resolution” involving the Federal Ministry of Public Affairs (MPF) and the United States. Petrobras did not disclose the names of those who received the bribe or the value of the contracts.

“The instrument is part of a global resolution, which involved coordinated action with MPF and U.S. authorities,” said Petrobras, mentioning that it did not have access to the agreement.

The agreement occurred on the same day that the SEC announced a fine of US$ 81 million to settle bribery accusations involving Honeywell in Algeria and Brazil. The company will also pay R$ 180 million in fines to the league, raising the total cost to nearly R$ 1 billion.

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Petrobras Will Pay Dividends

Petrobras will pay shareholders a second dividend of R$ 21.9 billion today. Shareholders registered as of November 21, 2023, will be entitled to the payment. Regarding the dividend, the total amount per common and preferred share is R$1.600192, and the updated Selic rate is R$0.011415, totaling R$1.611607 per share. Concerning interest on equity (JCP), the total amount per common and preferred share is R$0.074258, plus the Selic rate update of R$ 0.000529, totaling R$0.074787 per share.

The Unique Federation of Oil Workers (FUP) informed on Wednesday (18), one day after the oil companies announced new legal and administrative measures to try to suspend dividend payments to Petrobras. The union wants to suspend the dividends, citing “a significant portion of the companies’ profits from asset sales” and the “dollarization” of fuel prices, a decision that should be made by the new government.

Learn a Little About the Company

Petrobras is a publicly traded company (joint-stock company), whose majority shareholder is the Government of Brazil (the Union), thus being a mixed-economy state company. Headquartered in Rio de Janeiro, it currently operates in 14 countries in the energy sector, primarily in the areas of exploration, production, refining, marketing, and transportation of oil, natural gas, and their derivatives. Its current motto is “An integrated energy company that operates with social and environmental responsibility.” In the 2020 Forbes Global 2000, Petrobras was ranked as the seventieth largest public company in the world.

Petrobras Announces Receipt of $450 Million After Agreement with American Multinational UOP LLC

The Payment Resulted from a Bribery Case in 2010 Involving the State Oil Company. Honeywell Illegally Paid a Member of the Brazilian Government US$4 Million to Secure a Contract with Petrobras.

Petrobras Will Pay Dividends

Learn a Little About the Company

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Petrobras Announces Receipt of $450 Million After Agreement with American Multinational UOP LLC

The Payment Resulted from a Bribery Case in 2010 Involving the State Oil Company. Honeywell Illegally Paid a Member of the Brazilian Government US$4 Million to Secure a Contract with Petrobras.

Petrobras Will Pay Dividends

Learn a Little About the Company

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With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

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