Petrobras chief executive Roberto Castello Branco has appealed for Brazilian lawmakers to wave through a $9 billion compensation package for money owed to the company by the federal government, writes Gareth Chetwynd.
The proposed remuneration deal is intended to compensate for shifts in prices and exchange rates since the signing of an oil-for-shares agreement in 2010.
The agreement facilitated federal government participation in a massive Petrobras rights issue, ultimately strengthening state control over the company.
