November 8, 2017 / 11:24 AM / in a year

Brazil's Petrobras sets up transfer of rights area committee

Workers repair a tank of Brazil's state-run Petrobras oil company in Cubatao, Brazil, April 12, 2016. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) - Brazilian state-controlled oil company Petróleo Brasileiro SA has set up an internal committee to negotiate the terms of the so-called “transfer of rights” program with the federal government.

In a Wednesday securities filing, Petrobras, as the company is known, said the committee will be comprised of four executives from its exploration and production, and investor relation divisions.

Reporting by Bruno Federowski; Editing by Daniel Flynn

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