Brazil’s Supreme Court annuls billion-dollar labor dispute against Petrobras

 (Reuters) – Brazil’s Supreme Court annulled on Monday a previous court decision that would have required state-run oil company Petrobras (PETR4.SA) to pay billions of dollar in a labor dispute involving additional wages for employees.

The majority Supreme Court vote confirms a previous ruling made last year by Justice Alexandre de Moraes to annul the dispute, the cost of which had been estimated at around 17 billion reais ($3.25 billion).