OK - so if nothing happens, we await the courtcase which will start later this month and conclude sometime in june? (assuming we believe what RBC says).. maybe its faster, maybe its longer. Upstream says it will also then involve appeals etc which may delay things further.
I keep thinking of one item that may swing this whole asset sales process in favour of petrobras....and it may be this.
"KAROON Gas Australia may have just seen a glimmer of hope in the dark, with a Brazilian court ruling that Petrobras can continue a process of selling several offshore oil fields in the country's north-eastern region."
"Given the various challenges to the various Petrobras divestment processes are very similar, if not identical, we think it reasonable to assume a precedent effect if one set of asset sales is resolved in favour of Petrobras," Wilson said.
http://www.energynewsbulletin.net/energynewsbulletin/news/1139886/petrobras-shackles-loosened
This is an old article (25th of jan) but these are the only assets where an injunction has been overturned.
have a good weekend everyone,
PB
One hope?
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