March 15, 2018 / 1:16 AM / 8 days ago

Brazil court rules Petrobras did not fix prices

BRASILIA (Reuters) - A Brazilian court on Wednesday ruled that state-controlled Petroleo Brasileiro SA did not fix prices in its dealings with a refinery company in Rio de Janeiro, overturning a lower court ruling.

FILE PHOTO - The logo of Brazil's state-run oil company Petrobras is pictured in the company headquarters in Sao Paulo, Brazil February 20, 2018. REUTERS/Paulo Whitaker

The ruling found that Petrobras could not have fixed prices below cost as alleged by Refinaria de Petroleos de Manguinhos SA because the federal government set the prices. The decision can be appealed.

Reporting by Marta Nogueira; Editing by Sandra Maler; Writing by Jake Spring

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