Tuesday, September 17, 2019

Petrobras Eyes $9 Bln Transfer-of-rights Addendum

May 21, 2019

© Celso Pupo / Adobe Stock

Brazil's state-run oil company Petrobras said on Tuesday its board of directors approved an addendum to a transfer-of-rights oil contract that will see it reimbursed to the tune of $9.06 billion, but the deal remains subject to governmental agreement.

Approval depends on the publication of a Ministry of Mines and Energy decree that does not violate the rights and conditions from the contract Petrobras has already negotiated, the company said in a statement.


(Reporting by Luciano Costa; Writing Jamie McGeever)

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