September 20, 2017 / 2:40 PM / a month ago

Petrobras says conclusion of transfer of rights talks unclear -CEO

SAO PAULO, Sept 20 (Reuters) - Brazil’s state-run oil company Petróleo Brasileiro SA Chief Executive Pedro Parente on Wednesday said it is unclear when talks with the government regarding a revision of the so-called ‘transfer of rights’ contract will be concluded.

Through the contract, signed in 2010, the government exchanged exploratory rights over some high potential oil areas on its coast for Petrobras equity. A revaluation of the value of those assets was expected for this year. (Reporting by Lisandra Paraguassu; Writing by Marcelo Teixeira)

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