Petrobras, Brazil government expect to resolve dispute within 100 days: minister

Brazil’s government and state-run oil firm Petroleo Brasileiro SA (PETR4.SA) expect to resolve a dispute over the oil producing zone known as the ‘transfer-of-rights’ area within 100 days, a minister said on Thursday.

A dispute over the oil in the zone, and the price of it, dates back to 2010, when the Brazilian government granted Petrobras the right to extract 5 billion barrels of oil and gas in the offshore Santos Basin. Both the government and Petrobras had claimed to be creditors.

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