September 20, 2018 / 3:58 PM / a month ago

Brazil regulator to approve payment to Petrobras over diesel subsidy

RIO DE JANEIRO, Sept 20 (Reuters) - Brazil’s oil regulator ANP is set to approve on Thursday an additional payment of 700 million reais ($170.99 million) to state-controlled oil company Petróleo Brasileiro SA related to diesel subsidies, a source familiar with the process told Reuters.

Petrobras, as the oil company is known, is owed hundreds of millions of reais in diesel subsidies as a result of a government move to lower diesel prices earlier this year to end a nationwide truckers strike. The source, who requested not to be named, said payments related to the subsidy will be more regular from now on.

$1 = 4.0939 reais Reporting by Marta Nogueira Writing by Marcelo Teixeira

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