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Brazil's Petrobras must pay higher royalty in Whale Park dispute
July 6, 2015 / 9:36 PM / in 2 years

Brazil's Petrobras must pay higher royalty in Whale Park dispute

RIO DE JANEIRO, July 6 (Reuters) - Brazil’s state-run Petrobras said on Monday it must pay the Brazilian government about 350 million reais ($112 million) of additional royalties a quarter for oil produced in seven offshore fields.

The decision was made by an arbitrator in a dispute between Brazil’s oil regulator, the ANP, and Petroleo Brasileiro SA , as Petrobras is formally known. (Reporting by Jeb Blount; Editing by Lisa Shumaker)

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