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Petrobras agrees to pay Brazil $508 million to settle tax dispute


    RIO DE JANEIRO (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA said late Thursday that it paid 1.6 billion reais ($508 million) to settle part of a tax dispute with Brazilian authorities and will take the charge against earnings in second-quarter results.

    The charge includes 1.2 billion reais in back taxes and 400 million reais in fines, the company, known as PETROBRAS (APBR.82)(PETR3.BR)(XPBR.MC)(APBR.82)(PETR4.83)(PETR3.BR) said in a statement.

    (Reporting by Jeb Blount; Editing by Lisa Shumaker)