Rio de Janeiro, June 6, 2025 - Petrobras has announced that the company is involved in a new legal dispute. The lawsuit comes from Sete Brasil and several subsidiaries. It concerns alleged damages in connection with the former major project "Projeto Sondas" - an ambitious but ultimately failed offshore drilling project.
Sete Brasil puts the compensation claimed at 36 billion Brazilian reals, the equivalent of around 6.5 billion euros. However, this amount was determined unilaterally by Sete Brasil - a common procedure in Brazil that initially says little about the prospects of success.
Petrobras reacts calmly
Petrobras rejects the allegations as unfounded and emphasizes that it sees no responsibility for the damages claimed. The company has announced that it will defend itself resolutely as soon as the official deadline for filing a statement of defense has begun - which is not yet the case.
Petrobras also clarifies that no provisions will be made and that the lawsuit will have no impact on the quarterly figures for Q2 2025.
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Valuation:
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What does this mean for investors?
For investors - especially holders of preferred shares (PN) - this is nothing to worry about for now. This kind of legal legacy is nothing new at Petrobras. The dispute with Sete Brasil essentially stems from a period of far-reaching scandals and poor planning between 2014 and 2016.
Important point: as long as there are no court decisions or new evidence on the table, this lawsuit remains a potential risk, but not an acute problem.
Conclusion:
High amount in dispute, but so far only symbolic.
Petrobras remains defensively optimistic.
No impact on current profits.
For investors: watch, but stay calm.
Anyone who holds Petrobras in their portfolio knows the game: Where oil flows, lawyers' fees often flow too. But at the moment it looks as if this is mainly one thing - legal sabre-rattling.
So everything here is spiced up with a dash of common sense.
