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Brazil's state-controlled oil company fined

Brazil's state-controlled oil company fined

Brazil's state-controlled oil company says the national petroleum agency has fined it for failing to properly report production at an offshore platform.
Fabio Malta of the Petrobras press office says the company has been slapped with a fine of $47 million for allegedly supplying incorrect information about production at its P-50 platform off the coast of Rio de Janeiro.
He declined to provide further details on Wednesday but said Petroleo Brasileiro SA may appeal the fine.
The national petroleum agency says it has no immediate comment.
The UOL Internet news portal says that Petrobras has failed to report the production of an estimated 1.3 million barrels of oil over the past 14 months, leading to nonpayment of royalties and taxes.


Updated : 2021-10-16 20:56 GMT+08:00