Petrobras charters offshore rigs, platforms following tax dispute

Petroleo Brasileiro SA (Petrobras), Brazil's state-owned oil company, reported that it has signed international contracts chartering offshore drilling and production units despite the Brazilian Internal Revenue Service's contention (on the basis of the second article of Law 9,537/97) that such rigs cannot be classified as sea-going vessels and therefore should not be chartered but leased.

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