Petrobras Ordered to Pay 70 Million Dollars to IESA Oil and Gas

Written by Flavia Marinho

Published on 04/01/2021 at 14:17

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Petrobras Suffers Setback in Arbitration with Inepar Abroad. U.S. Arbitration Tribunal Issues Ruling of 70 Million Dollars to State-Owned Subsidiaries

Petrobras informs this morning (12/04) that an arbitration tribunal based in New York has issued a ruling in an arbitration initiated by IESA Oil and Gas, in the process involving the payment of losses due to contract violations. Looking for a job? Job opening in Macaé for Experienced Instrumentation Technicians on Petrobras Offshore Platforms, today January 04.

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The legal consultants in the arbitration have received a partial ruling on liability and damages in which the arbitration tribunal concluded that Petrobras Netherlands and Tupi breached the contracts and awarded Iesa compensation for damages, plus pre-award interest, totaling approximately 70 million dollars

The arbitration tribunal will still determine, in a later phase, the issue of attorney’s fees and arbitration costs, as well as post-award interest.

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Petrobras Ordered to Pay 70 Million Dollars to IESA Oil and Gas

Petrobras Suffers Setback in Arbitration with Inepar Abroad. U.S. Arbitration Tribunal Issues Ruling of 70 Million Dollars to State-Owned Subsidiaries

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Petrobras Ordered to Pay 70 Million Dollars to IESA Oil and Gas

Petrobras Suffers Setback in Arbitration with Inepar Abroad. U.S. Arbitration Tribunal Issues Ruling of 70 Million Dollars to State-Owned Subsidiaries

Read Also

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

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