U.S. Markets closed

Brazil's Petrobras eyes transfer-of-rights addendum that opens up $9 bln payment

SAO PAULO, May 21 (Reuters) - Brazil's state-run oil company Petrobras said on Tuesday its board of directors approved an addendum to a transfer-of-rights oil contract that will see it reimbursed to the tune of $9.06 billion, but the deal remains subject to governmental agreement.

Approval depends on the publication of a Ministry of Mines and Energy decree that does not violate the rights and conditions from the contract Petrobras has already negotiated, the company said in a statement.

(Reporting by Luciano Costa Writing Jamie McGeever)