Vantage Drilling Says Arbitration Tribunal Awards It $622 Million in Petrobras Dispute
03 July 2018 - 5:12AM
Dow Jones News
By Josh Beckerman
Vantage Drilling International said an international arbitration
tribunal awarded the company $622.02 million in a dispute with
Brazil's Petroleo Brasileiro SA, or Petrobras, over a 2015 contract
termination.
Petrobras didn't immediately return an email seeking
comment.
Vantage filed for chapter 11 bankruptcy in late 2015, citing oil
prices and the effects of bribery allegations about Petrobras,
which was Vantage's largest customer. Vantage emerged from
bankruptcy protection in early 2016.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
July 02, 2018 14:57 ET (18:57 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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