Financial

Brazil to get data for revision of large Petrobras contract in May

Brazil’s oil industry regulator ANP will submit next month the calculations to base the revision of a large contract with Petrobras known as the Transfer of Rights, the Energy Minister Fernando Coelho Filho said on Monday.

The contract, through which the government exchanged in 2010 exploratory rights over some oil areas in its coast for Petrobras equity, will be revised this year. Analysts expect Petrobras, as the state-controlled oil company Petróleo Brasileiro SA is known, to receive a large credit in the revision, which could be paid in cash or oil.

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