Petrobras denies challenging Braskem accord in U.S. courts

Posted by Joseph R Fonseca

Brazil's state-run oil company Petróleo Brasileiro SA on Friday denied a report it is challenging an accord closed by Brazilian petrochemical company Braskem in U.S. courts.

Petrobras said in a securities filing it is waiting for access to details on naphtha supply contract in Braskem leniency deal with Brazilian prosecutors to decide on its next steps. Earlier on Friday the news of a possible challenge to the accord sent Braskem shares sharply down.

(Reporting by Marcelo Teixeira; Editing by Sandra Maler)

Feb 4, 2017

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