UPDATE 1-Brazil govt likely to pay Petrobras $10 bln in transfer-of-rights dispute -report [Reuters]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Reuters
UPDATE 1-Brazil govt likely to pay Petrobras $10 bln in transfer-of-rights dispute -report (Adds economy ministry comment) 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 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. Petrobras, as the firm is widely known, did not respond to a request for comment. The economy ministry said that “the negotiations continue” and the final values “will be announced when the
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