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Brazil judge annuls billion-dollar decision against Petrobras

Reuters
Updated ·1 min read

BRASILIA, July 28 (Reuters) - Brazil Supreme Court Justice Alexandre Moraes has annulled a decision that would have required state-run oil company Petroleo Brasileiro SA to pay billions of dollars in a labor dispute, according to court documents seen by Reuters on Wednesday.

Moraes in 2019 had already suspended the proceedings before a labor court into whether Petrobras, as the company is commonly known, owed additional wages to employees. At that time, the dispute was estimated to have a possible impact on the company of 17 billion reais ($3.32 billion).

($1 = 5.1235 reais) (Reporting by Ricardo Brito; writing by Jake Spring; Editing by Leslie Adler)