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Brazil's Petrobras says Bolivian court annuls $61 million fine

Reuters
Updated ·1 min read

BRASILIA, June 17 (Reuters) - Brazilian state-run oil company Petrobras said on Thursday that a Bolivian court has annulled a $61 million fine its subsidiary Petrobras Bolivia SA (PEB) was ordered to pay in a land dispute in one of its main gas fields there.

Petroleo Brasileiro SA, as the company is formally known, said in a statement that the court in Sucre decided there was no evidence the land was the property of the complainant seeking compensation. The San Alberto field is operated by PEB, with a 35% interest, along with YPFB Andina - a joint venture of Bolivia’s YPFB, Spain’s Repsol and France’s Total. (Reporting by Anthony Boadle; Editing by Leslie Adler)