Business

Petrobras transfer rights deal: what you need to know

Petrobras

If oil is black gold, then Brazilian Congress is about to unlock a treasure fit for King Midas. The key is the so-called “transfer rights” bill, currently pending in the Senate and the subject of voracious negotiations between lawmakers and the future government about how to distribute a fortune of more than BRL 100 billion. The story goes back to 2010 when the Brazilian government increased its stake in state-owned oil company Petrobras.

By that time, the federal government and Petrobras had made the transfer rights agreement, under which Petrobras paid roughly BRL...

Access all of The Brazilian Report

Less expensive than a coffee!

Enjoy your 30-day limited-time offer for US$ 0.25 a week