Brazil’s labor court suspends deal between Petrobras and 3r Petroleum

Dec 7 (Reuters) – A Brazilian labor court suspended a deal between Petroleo Brasileiro SA and 3R Petroleum, documents seen by Reuters show.

The judge said that Petrobras’ board of directors approved the deal without the presence of its employee representative. Petrobras announced a $453 million agreement with oil company 3R Petroleum over 34 oil fields in Bacia Potiguar.

According to sources 3R Petroleum expects to close next week.

 

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