Petrobras May Pay Millions in Fines to Vantage Drilling for Breach of Contract

Written by Paulo Nogueira

Published on 08/02/2019 at 09:01

O contrato foi o centro de uma investigação de corrupção que viu o executivo da Petrobras, Jorge Zelada, condenado a 12 anos e dois meses de prisão em 2016 por corrupção e lavagem de dinheiro, depois que ele foi condenado por conceder indevidamente a Vantage um contrato em 2009.

Be the first to react!

With Imminent Risk of Being Condemned by the Texas Courts, Petrobras is Forced to Allocate US $ 622 Million Plus Interest to American Company for a Breached Contract in 2015

Petrobras has made a provision for the total amount that was requested last year, to eventually pay the American driller Vantage Drilling for the early termination of the contract, related to the massive corruption investigation triggered by Operation Lava Jato. The Brazilian state giant was ordered in July to pay Vantage US $ 622.02 million, plus compound interest of 15.2% per year for the termination of the charter of the drilling unit Titanium Explorer in 2015.

The unit was drilling for Petrobras in the Gulf of Mexico, at the time, and was operating under an eight-year contract worth US $ 1.8 billion before the oil company canceled the agreement, claiming that Vantage had breached its obligations under the contract.

On Thursday evening, Petrobras stated that the provision will be recognized in its fourth-quarter results, which are expected to be released soon.

ARTICLE CONTINUES BELOW

Petrobras May Pay Millions in Fines to Vantage Drilling for Breach of Contract

With Imminent Risk of Being Condemned by the Texas Courts, Petrobras is Forced to Allocate US $ 622 Million Plus Interest to American Company for a Breached Contract in 2015

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Find out which are the 5 busiest bus stations in Brazil and what they offer to travelers.

He looks alien, and it’s on purpose: the Helios abandons the legs of common humanoid robots and gains four arms to move, anchor, and operate in zero gravity, with the promise of eventually even helping with the maintenance of satellites and structures in orbit.

Brazilians create cashierless mini-market in the USA, use AI to define products and prices, raise R$ 10 million, and achieve financial balance in the first month before planning nine more units in Miami by the end of 2026.

Three of the five winners of one of the UK’s most prestigious literary awards are suspected of having submitted books written by AI, as detectors cannot distinguish human from machine, and writing too well has become a reason for suspicion.

Petrobras May Pay Millions in Fines to Vantage Drilling for Breach of Contract

With Imminent Risk of Being Condemned by the Texas Courts, Petrobras is Forced to Allocate US $ 622 Million Plus Interest to American Company for a Breached Contract in 2015

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Water hyacinth that blocks boats, oxygen, and channels gains a new function as a lightweight construction panel, creating a sustainable alternative, reducing waste, and offering efficient thermal insulation.

More than 230 Brazilian companies move production to Paraguay, pay a tax rate close to 12%, compared to about 80% in Brazil, and use Mercosur to sell back to the domestic market without import tax.

Dredged material from navigation channels restores life to Poplar Island, reconstructs 1,715 acres of land, expands open water zones, and creates a refuge for hundreds of migratory and local bird species.

About 500 kilos of green stones with juvenile algae are spread in the ocean to regenerate underwater forests, reduce costs, and accelerate the restoration of marine habitats.

Find out which are the 5 busiest bus stations in Brazil and what they offer to travelers.

He looks alien, and it’s on purpose: the Helios abandons the legs of common humanoid robots and gains four arms to move, anchor, and operate in zero gravity, with the promise of eventually even helping with the maintenance of satellites and structures in orbit.

Brazilians create cashierless mini-market in the USA, use AI to define products and prices, raise R$ 10 million, and achieve financial balance in the first month before planning nine more units in Miami by the end of 2026.

Three of the five winners of one of the UK’s most prestigious literary awards are suspected of having submitted books written by AI, as detectors cannot distinguish human from machine, and writing too well has become a reason for suspicion.