Petrobras Receives Insurance Payment For P-36

Petrobras reports that it received the last of a $496 million insurance payout for its production rig, P-36 that sank in March of this year. This incident raised the cost of insuring the firm's $20.9 billion of assets to $48.8 million for 14 months cover from $7.5 million for one year's cover at the last evaluation. The regulatory report released earlier this week made no difference to the insurance claim.

The first part of the insurance payout was received last Friday and the last payrment in the amount of $25.5 million arrived earlier this week.

Insurance broker AON Corp, which was responsible for the risk evaluation, coordinated the insurance payment.