Brazil’s Petrobras to pay $283 million to settle U.S. court dispute with EIG

SAO PAULO (Reuters) – Brazilian state-run oil firm Petrobras said on Friday its board approved an agreement to settle a U.S. court dispute with EIG Energy Fund XIV, including a $283 million payment by the Brazilian company.

In a securities filing, Petrobras said the amount of the contingency is provisioned in its earnings. The case is related to EIG’s investment in FIP Sondas, a former shareholder of drillship company Sete Brasil.

(Reporting by Andre Romani)