Petrobras informs about provisioning
Rio de Janeiro, October 18, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that, within its ongoing process of contingencies assessment, it will provision R$ 3.2 billion as a result of: (i) litigation involving the company Sete Brasil, (ii) environmental process in the state of Paraná; and (iii) disputes on special participation and royalties involving the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
The effect of these provisioning will be recognized in the Petrobras consolidated results for the 3rd quarter of 2019.
The information related to these contingencies is presented in the financial statements for the 4th quarter of 2018, through note 31.3. Contingent liabilities.
The Company remains in defense of its interests in the ongoing legal proceedings.
PETRÓLEO BRASILEIRO S.A. - PETROBRAS | Investor Relations Department I e-mail: firstname.lastname@example.org
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This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties. The forward-looking statements, which address the Company's expected business and financial performance, among other matters, contain words such as "believe," "expect," "estimate," "anticipate," "optimistic," "intend," "plan," "aim," "will," "may," "should," "could," "would," "likely," and similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. There is no assurance that the expected events, trends or results will actually occur. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.
The Company's actual results could differ materially from those expressed or forecast in any forward-looking statements as a result of a variety of assumptions and factors. These factors include, but are not limited to, the following: (i) failure to comply with laws or regulations, including fraudulent activity, corruption, and bribery; (ii) the outcome of ongoing corruption investigations and any new facts or information that may arise in relation to the "Lava Jato Operation"; (iii) the effectiveness of the Company's risk management policies and procedures, including operational risk; and (iv) litigation, such as class actions or proceedings brought by governmental and regulatory agencies. A description of other factors can be found in the Company's Annual Report on Form 20- F for the year ended December 31, 2018, and the Company's other filings with the U.S. Securities and Exchange Commission.