Brazil govt likely to pay $10 bln to Petrobras in transfer-of-rights dispute -report [Reuters]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Reuters
Brazil govt likely to pay $10 bln to Petrobras in transfer-of-rights dispute -report RIO DE JANEIRO, March 19 (Reuters) - The Brazilian government is likely to pay around $10 billion to state-run oil firm Petroleo Brasileiro SA to settle the so-called ‘transfer-of-rights’ dispute, newspaper Valor Economico reported on Tuesday, though the parties have not agreed on the final terms. The financial daily, citing a source with knowledge of the matter, said the payment was a reduction from a previous proposal of $14 billion. Valor in January had reported that the government had agreed on the higher figure, but the government subsequently denied the report. The two sides are close to an agreement, the paper said, reiterating statements by public officials in recent weeks. Neither the Economy Ministry nor Petrobras, as the firm is widely known, immediately responded to a request for comment. The transfer-of-rights dispute dates back to a 2010 deal between the government and Petrobras relating
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