Petrobras to appeal ruling suspending Libra platform bidding

Petróleo Brasileiro SA will appeal a court decision that suspended bidding for the lease of a first floating production, storage and offloading (FPSO) platform for the giant Libra off-shore oil field, the company said on Wednesday.

The Brazilian shipbuilders association Sinaval obtained an injunction suspending the bidding process based on its argument that the auction did not comply with Brazil’s rules for local content.

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