Petrobras says Carmo Energy Fails to Make Payment for Oil Assets
Brazil’s Petrobras said on Tuesday that Carmo Energy has not fulfilled contractual obligations related to its purchase of the onshore Polo Carmopolis area from the state-run oil giant.
Petrobras, which had agreed to sell its stake in the asset to Grupo Cobra-backed Carmo Energy in 2021 for a total $1.1 billion, said in a securities filing it had not received a $296 million installment due on Dec. 20.
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The oil firm added it would seek legal and contractual measures to get paid, without providing further details. Carmo Energy did not immediately respond to an emailed request for comment.
