Brazil May Price Oil at $10-12 in Petrobras Swap, Estado Says
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Brazil’s government may price so-called pre-salt oil reserves at $10 to $12 per barrel in an oil-for-stock swap with Petroleo Brasileiro SA, O Estado de S. Paulo reported, without saying where it got the information.
Gaffney, Cline & Associates, a consulting company hired by the National Petroleum Regulator, will deliver its final report on the price of the reserves today, the newspaper said. Petrobras, as the state-controlled company is known, wants to pay $5 to $6 per barrel, Estado said.