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Brazil fines Petrobras, partners in Lula field $833 million
March 31, 2017 / 10:08 PM / 8 months ago

Brazil fines Petrobras, partners in Lula field $833 million

SAO PAULO, March 31 (Reuters) - Brazil’s oil industry regulator ANP on Friday imposed a 2.6 billion reais ($833 million) fine on state oil company Petroleo de Brasileiro SA and its partners in the giant Lula offshore field for a discrepancy in the pricing of oil used in calculating the government’s take.

Petrobras, which operates the field with a 65 percent stake, said in a statement the consortium would appeal the decision. Its partners in the field are BG E&P Brasil - a unit of Royal Dutch Shell Plc - with 25 percent and Petrogal Brasil, with 10 percent. ($1 = 3.1220 reais) (Reporting by Marcelo Teixeira; Writing by Daniel Flynn; Editing by James Dalgleish)

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