Petrobras Sees Higher Insurance Costs After BP Spill

Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, expects insurance costs for offshore operations to rise after BP Plc’s spill in the Gulf of Mexico, a company official said.

“It’s natural that after an accident like that, insurance costs will rise,” Samir Passos Awad, the company’s head in the Netherlands, said today in an interview in Paris. “But it’s premature to say anything else.”