Brazilian oil company Petroleo Brasileiro SA could receive some 30 billion reais ($7.9 billion) from the government in a renegotiation of the “transfer of rights” oil contract, a person following the process told Reuters on Wednesday.
The money to pay state-controlled Petrobras, as the company is known, would come from a potential auction of excess oil from the “transfer of rights” area off the Brazilian coast, according to the source, part of the team working on the transition to a new government in Brazil. The person, who requested anonymity, said such an auction could raise 120 billion to 130 billion reais next year, if the necessary legislation clears Congress.
Brazil Energy Insight 
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