Petrobras CEO: Brazilian Court to Examine Statoil Contract
A transaction between Statoil (STO) and Petrobras that could be worth up to $2.9 billion will likely be scrutinised by Brazil's Federal Court of Accounts (TCU), the CEO of Petrobras said on Monday.
"It may be delayed a bit, but it will not stop the process," Pedro Parente told reporters.
Statoil agreed to buy a 25-percent stake in Roncador, one of the country's largest oilfields on Monday. The transaction will take effect from Jan. 1 and is subject to approval in Brazil.
Reporting by Nerijus Adomaitis
