Fabrib
Forumer storico
Petrobras pops after Brazilian newspaper Valor Economicoreported the government will pay $14B to the company to settle a dispute about the offshore transfer of rights area.
The newspaper, which did not say how it obtained the information in its report, said the settlement has been discussed with new Pres. Bolsonaro’s transition team.
The $14B is a "good number," says Adeodato Volpi Netto, head of capital markets at Eleven Financial Research, and would "enable the materialization of different scenarios that depended on this definition [of the amount the company will receive]. Many of the company’s investment programs and partnerships depended on an understanding of its ability to work on leverage, cash management."
The dispute over the oil in question and the price of it dates back to 2010, when the Brazilian government granted PBR the right to extract 5B barrels of oil and gas in the offshore Santos Basin.
The newspaper, which did not say how it obtained the information in its report, said the settlement has been discussed with new Pres. Bolsonaro’s transition team.
The $14B is a "good number," says Adeodato Volpi Netto, head of capital markets at Eleven Financial Research, and would "enable the materialization of different scenarios that depended on this definition [of the amount the company will receive]. Many of the company’s investment programs and partnerships depended on an understanding of its ability to work on leverage, cash management."
The dispute over the oil in question and the price of it dates back to 2010, when the Brazilian government granted PBR the right to extract 5B barrels of oil and gas in the offshore Santos Basin.