$PBR Petrobras (PBR -0.4%) owes Brazil's government billions of dollars tied to offshore exploration rights but is unlikely to pay this year, according to a cabinet minister, who says the government’s 2018 budget does not include any revenue from the rights that has sparked a dispute with the company.
The planning minister’s comments suggest the dispute could drag on despite this week's launch of a government commission comprised of representatives from several ministries to accelerate negotiations.
The minister also says he sees little resistance from lawmakers to the plan to privatize Eletrobras (EBR +0.6%) through a capital raise or a related deregulation of electricity prices, even though the latter likely would boost rates for consumers.
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