Petrobras transfer rights deal: what you need to know


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...

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