Petrobras Settles Taxes Owed for Vessel Leasing Contracts

Brazil's state-controlled oil company, Petroleo Brasileiro SA, said on Monday it adhered to a federal tax refinancing program to settle taxes owed on vessel leasing contracts.
 
Petrobras, as the company is known, said in a securities filing the company would pay 1.7 billion reais ($538.5 million) in 12 monthly installments beginning this month.
 
The payments would have a negative effect of 1.1 billion reais on fourth-quarter earnings, the company said.
 

($1 = 3.1574 reais)

(Reporting by Tatiana Bautzer; Editing by Peter Cooney)

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