Petrobras said on Jan. 29 it adhered to a federal tax refinancing program to settle taxes owed on vessel leasing contracts.
The company said in a securities filing that it would pay 1.7 billion reais (US$538.5 million) in 12 monthly installments beginning this month.
The payments would have a negative effect of 1.1 billion reais (US$348.4 million) on fourth-quarter earnings, the company said.
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