Shapoorji Pallonji Energy appeals to Brazilian government over Petrobras contract - Bloomberg

Investing.com -- Shapoorji Pallonji Energy, an Indian energy company, has lodged an appeal with the Brazilian government following the cancellation of a tender for the construction of an oil production platform by state-run Petrobras, according to Bloomberg News.

Last week, a delegation from the offshore infrastructure company visited Rio de Janeiro and Brasilia, the capital of Brazil, in a bid to overturn Petrobras’ decision, an individual familiar with the situation told Bloomberg. The source revealed that this move has intensified the disagreements between the two firms.

Furthermore, the Indian embassy is keeping a close eye on the situation. Both India and Brazil are members of the BRICS economic and political coalition, a group that also includes Russia, China, and South Africa. Meanwhile, Petrobras is actively seeking to strengthen its relationship with India.

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