Brazil court upholds injunction on Petrobras oilfields sale

A Brazilian federal court has rejected an appeal by Petroleo Brasileiro SA to allow the state-controlled oil company to proceed with the sale of two oilfields to Karoon Gas Australia.

The court’s decision to uphold a Nov. 19 injunction on the sale of the Baúna and Tartaruga Verde fields was made public on Monday and confirmed on Tuesday by a Petrobras employees union that sued to block the transaction as well as by Karoon.

In a statement on Tuesday, Karoon said the legal process could only proceed in February 2017 after the court’s recess ended.

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