Petroleo Brasileiro SA- Petrobras (PBR) has released an update.
Petrobras has announced that the Brazilian Superior Court of Justice (STJ) has rejected the company’s appeal regarding a tax dispute, resulting in a potential R$ 987 million liability related to the CIDE-Combustibles tax for the period between March 2002 and October 2003. Following the revocation of injunctions favorable to distributors and gas stations, the company is considering the possibility of further appeal. Market-relevant updates will be provided as the situation evolves.
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