Petrobras

Petrobras – Agreement between Liquigás and CADE

Rio de Janeiro, September 08, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its wholly owned subsidiary Liquigás Distribuidora S.A. (Liquigás) has entered into an agreement with the Administrative Council for Economic Defense (CADE) on 09/06/2017 to halt two administrative processes on the formation of a cartel in the Liquefied Petroleum Gas (LPG) distribution market in the Northeast of the country and in the Federal District and adjacent areas.

Under this agreement, referred to as the Termination Commitment Term (Termo de Compromisso de Cessação), Liquigás collaborated to clarify the case to the competent authorities and commited to pay the total amount of R$ 65.6 million to the Brazilian Diffuse Rights Defense Funds (Fundo de Defesa dos Direitos Difusos).

Over the past few years, Liquigás has been implementing improvements in its internal processes, such as the creation of a compliance area and the adoption of the Competitive Compliance Program, with the purpose of disseminating good market practices and providing guidance on antitrust legislation.

Categories: Petrobras

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s