Brazil’s Economy Ministry denied that the government would pay $14 billion to state-controlled oil company Petroleo Brasileiro SA to settle a dispute over an oil-producing zone off the Brazilian coast known as the transfer-of-rights area. The ministry told Reuters in a statement the figure, reported on Monday by the Valor Economico newspaper, was only one of several proposals passed to the transition team of President Jair Bolsonaro by his predecessor Michel Temer. The final amount has not yet been decided, the ministry said. The report that $14 billion had been agreed to settle the dispute helped boost the common shares of Petrobras, as the company is known, as much as 5.5 percent. Common shares closed Monday […]