Financial

Brazil concludes it owes Petrobras money in ‘Transfer of Rights’ deal: source

The Brazilian government concluded it owes state oil company Petrobras money after a revaluation of stakes in offshore oil blocks known as transfer of rights areas, a government source familiar with the issue told Reuters on Friday.

The government will offer to settle the debt arising from the transfer of rights contracts with Petrobras, or Petróleo Brasileiro SA (PETR4.SA), using a payment in oil, added the source, who asked not to be named because the contract revision is yet to be made public.

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Categories: Financial, Petrobras

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