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Petrobras Eyes $9 Bln Transfer-of-rights Addendum

By  AOG Staff Tuesday, 21 May 2019 04:13
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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.

© Celso Pupo / Adobe Stock
© Celso Pupo / Adobe Stock

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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