Brazil's Watchdog Asks Petrobras To Restate Financial Reports From 2013-15



Reuters

SAO PAULO, March 8 (Reuters) - Brazil's stock market regulator CVM has asked state controlled oil company Petroleo Brasileiro SA to restate its annual financial statements for 2013, 2014 and 2015 to include the impact of currency rate hedges.

In a securities filing late on Tuesday, Petrobras said the CVM also requested the restatement of financial results from the second and third quarters of 2013, and to the years of 2014, 2015 and 2016 to account for impairments related to certain hedging transactions.

Petrobras said it can appeal against the request which is preliminary and could still be overturned by a CVM panel.

(Reporting by Ana Mano; Editing by Greg Mahlich)



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.