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Brazil's Petrobras does not need gov't cash for Libra
October 23, 2013 / 5:00 PM / 4 years ago

Brazil's Petrobras does not need gov't cash for Libra

Brasilia, Oct 23 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA does not need funds from the country’s treasury to pay its 6 billion real ($2.75 billion) share of the signing fee for its purchase of the country’s biggest-ever discovery, Chief Executive Maria das Gracas Foster said on Wednesday.

On Monday, Petrobras agreed to buy 40 percent of Libra, a giant offshore oil field, a purchase that would require it to pay the government an equivalent share of the area’s 15 billion real signing charge.

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