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Oil and Gas

Brazil's Petrobras reaches deal with regulator for royalties payments on shale oil unit

SAO PAULO, July 1 (Reuters) - Brazil state-run oil company Petrobras said on Friday it signed an agreement with the country’s oil and gas regulator ANP to pay 601 million reais ($112.74 million) in royalties for its shale industrialization unit (SIX).

The agreement will end litigation regarding the collection of royalties and administrative fines arising from the unit, located in the southern state of Parana. ($1 = 5.3310 reais) (Reporting by Carolina Pulice and Peter Frontini)

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