RIO DE JANEIRO, BRAZIL – The Agro-environmental Court of the Bolivian city of Sucre has overturned a lower court ruling that sentenced Petrobras Bolivia (PEB), a subsidiary of Brazil’s state-owned oil company, to pay US$61 million in damages for the use of the property where the San Alberto field facilities are located, the oil company said Thursday.
The Agro-environmental Court of the Bolivian city of Sucre overturned a lower court ruling against Petrobras Bolivia (PEB).
According to a statement from Petrobras, the court ruling indicated evidence of the violation of PEB’s fundamental rights and constitutional guarantees in the lower court ruling, overturning all acts since the beginning of proceedings.
The decision also extinguished previously imposed cautionary measures and imposed a fine on the lower court judge, the company added.
“(The decision highlighted) absence of demonstration of ownership of the area by the plaintiff,” Petrobras said. “The Agro-environmental Court’s ruling reinforces the company’s confidence in Bolivia’s institutions.”
The oil company had communicated the initial ruling last May 28. At the time, sources said that PEB’s accounts were blocked by Bolivian courts amid a legal dispute with a family over ownership of part of the area where the San Alberto field is located.
PEB operates the asset with a 35% stake, in partnership with YPFB and Total E&P.
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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$139.52B
Market cap
Analyst target $22.95
Wall Street view
4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $22.95 · +28% vs 200-day
Valuation & profitability
Market cap$139.52B
Revenue (TTM)$548.49B
P / E ratio5.3
Profit margin24.3%
Return on equity30.3%
Price & risk
52-wk low $10.6552-wk high $21.99
Beta (volatility)-0.21
200-day average$17.87
Revenue trend · 6y
20202025
Latest $88.10B
Ownership
Institutions22.3%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds
Dividend
Yield17.5%
Payout ratio28.3%
Fwd. annual$1.68
What Petroleo Brasileiro Petrobras does. Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces…
