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Report: Petrobras asks to participate in high court case around divestments

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Report: Petrobras asks to participate in high court case around divestments

Petróleo Brasileiro SA - Petrobras has requested to participate in an ongoing legal dispute before Brazil's Supreme Court, which could affect its divestment program, according to a March 13 report from Reuters.

Citing a legal document, Reuters said the company filed a request to allow it to present arguments and defend its points of view regarding a major case that covers the sale of subsidiaries by state-controlled companies.

In July, Supreme Court Justice Ricardo Lewandowski issued a provisional ruling that state-owned firms need congressional approval for certain types of divestments, which prompted the company to suspend the sale of certain refineries, a gas pipeline network and a fertilizer plant.