Brazilian officials on Thursday predicted a quick resolution to a dispute with Petroleo Brasileiro SA over offshore oil blocks and doubled down on pledges to steer the state-run firm toward its core businesses like oil exploration.
At the swearing-in ceremony for new CEO Roberto Castello Branco, incoming Mines and Energy Minister Bento Albuquerque said Petrobras, as the company is known, and the state, expect to resolve a dispute over the oil-producing zone known as the ‘transfer-of-rights’ area within 100 days.