Notice: Trying to get property 'display_name' of non-object in /home/theproficientinv/public_html/wp-content/plugins/wordpress-seo/src/presenters/meta-author-presenter.php on line 40
Investor Strategy

Brazil’s Petrobras to inject $3.4 billion into pension fund over 25 years

imageStock Markets10 hours ago (Mar 10, 2020 06:41PM ET)

SAO PAULO (Reuters) – Brazilian state-controlled oil company Petroleo Brasileiro SA expects to inject $3.4 billion into its employees’ pension fund, Petros, over the next 25 years, the company said on Tuesday.

Petrobras said in a statement that a calculation made in December forecast a future deficit in its Petros Fundacao pension fund of 33.7 billion reais ($7.26 billion).

The company said it would make an immediate payment of 2 billion reais ($431 million) plus extraordinary contributions over the next 25 years. In total, it said it would inject 15.6 billion reais ($3.4 billion) into the pension fund.

The rest of the funds will be paid by other contributors, including the fuel distribution company Petrobras Distribuidora (SA:BRDT3), which was a unit of Petrobras before being sold, and employees.

Brazil’s Petrobras to inject $3.4 billion into pension fund over 25 years

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top