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An international tribunal fined Petrobras yesterday with a whopping $622 million for breaching a 2009 contract with a unit of Vantage Drilling. Petrobras found out that its executive had unduly awarded Vantage a contract, and notified Vantage in 2015 that its contract has been terminated, claiming Vantage breached terms. In return, Vantage filed an arbitration claim against PAI, PVIS and Petrobras reasoning for “wrongful termination.”
