Summary by Moomoo AI
Petroleo Brasileiro SA Petrobras (Petrobras) has announced the signing of an addendum to the Terms of Cessation Commitment (TCC) for Gas with Brazil's Administrative Council for Economic Defense (CADE) on July 3, 2024. This addendum, which follows a Material Fact disclosed on May 22, 2024, concludes the obligation for Petrobras to sell TBG as part of the TCC, originally signed on July 8, 2019. The new agreement includes additional commitments and extends the validity of the TCC Gas terms until the earlier of the independence certificate issuance for TBG or March 4, 2039, in accordance with the New Gas Law. Petrobras has expressed its commitment to respecting antitrust regulations and maintaining a healthy business environment in Brazil.