Highlights

A preliminary injunction reestablishes the effects of presidential decree on oil exploration and sale of Petrobras assets

The preliminary injunction of the President of the Federal Supreme Court (STF), Justice Dias Toffoli, reinstated the effects of Decree 9.355 of April 25, 2018, edited by the then President of the Republic Michel Temer, which establishes a special process for the assignment of rights on exploration, development and production of oil, natural gas and other hydrocarbons fluids by "Petróleo Brasileiro SA" (Petrobras) and its subsidiaries or controlled companies.

Justice Dias Toffoli pointed out that Petrobras is in the process of financial recovery, with indebtedness corresponding to the amount of R$ 291,83 billion, "not being prudent, at this stage of the process, to maintain the precautionary decision whose effects will deepen even more the economic-financial framework of the state-owned enterprise".

Read the entire decision of Justice Dias Toffoli at STP 106.

Read more