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UPDATE 2-Brazilian government 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
Company Research Source: Reuters
Brazilian government likely to pay Petrobras $10 billion in transfer-of-rights dispute: report RIO DE JANEIRO (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 they are agreed upon between parties.” Th Show less Read more
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