Brazil ANP Says $8 a Barrel ‘Reasonable’ for Oil Swap
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A “reasonable price” for Petroleo Brasileiro SA to pay for offshore oil reserves it’s planning to buy from the government in exchange for stock would be $8 a barrel, said Haroldo Lima, head of Brazil’s petroleum regulator.
“I think a price of $5 to $6 is lower than what would be possible,” Lima said today in an interview. “A reasonable price in my opinion would ideally be around $8 a barrel.”