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My Profile LogoutLogin Go to section:U.S.InternationalBusinessMarketsStocksAnalyst ResearchTechnologyOddly EnoughSmall BusinessBrazil pledges not to sue Bolivia over natgas price Tue Dec 19, 2006 6:17pm ET Market View PBR (Petroleo Brasileiro S A Petrobras ) Last: $98.30 Change: +1.06 (+1.09%) Revenue (ttm): $69,590.0M EPS: 12.22 Market Cap: $106,627.40M Time: 4:01pm ET Stock Details Company Profile Analyst Research Company News: Brazil pledges not to sue Bolivia over natgas price Brazil Petrobras to buy back some preferred stocks ADR Report-ADRs edge up, Fed offsets oil drop, Philips More Company News... Email This Article | Print This Article | Reprints [-] Text [+] LA PAZ, Dec 19 (Reuters) - Brazil has promised not to take Bolivia to an international arbitration court over Bolivia's bid to increase the price Brazil pays for its natural gas, Bolivia's energy minister said on Tuesday. "Brazil finally called off the possibility of going to international arbitration on this issue," Energy Minister Carlos Villegas told reporters after a two-day trip to Brazil, where he met with Brazilian Energy Minister Silas Rondeau. Brazil threatened this year to seek arbitration after leftist President Evo Morales said he wanted to hike the cost of natural gas exports to Brazil, in the context of a broad energy-sector nationalization drive launched in May. The two countries have been locked in arduous talks since June, and in early December agreed to extend negotiations for 120 days. Reuters Pictures Editors Choice: Best pictures from the last 24 hours. View Slideshow Villegas said the talks to raise the price Brazil pays by 25 percent from the current $4 per million British thermal units were going well and that the two sides are likely to reach an agreement "in the next round of talks," although he did not specify when this would be. He also said Brazil had agreed to preliminary talks that might lead to negotiations to increase imports of Bolivian natural gas. Brazil currently imports about 26 million cubic meters of gas a day from Bolivia, below an agreed maximum of 30 million cubic meters daily. Villegas said Brazil's state-owned Petrobras (PBR.N: Quote, Profile , Research) (PETR4.SA: Quote, Profile , Research) will negotiate the sale of a majority stake in its two Bolivian refineries to the Bolivian government in a meeting scheduled for early 2007. Petrobras is the largest investor in Bolivia's energy sector and the main buyer of Bolivian natural gas. © Reuters 2006. All Rights Reserved. Next Article: Nikkei above 17,000 as blue chips gain on cheap yen Ads by GoogleWhat's This? Top 10 Stocks for 2007 America's 10 Leading Experts ShareTheir Top Stock Quotes. Free Report www.NewsletterAdvisors.com Crude Oil Report See who's pumping cash by makingoil for $13.21. And selling for $59 www.investmentu.com Worried About Oil Prices? Learn How Colorado is Sitting onMore Oil Than the Middle East www.DailyWealth.com/Oil_Report Comment & Analysis Healthy savings Congress has enacted rules that make it easier for families to build large health savings accounts to see them through retirement. Columnist Linda Stern offers tips on taking advantage of the new rules. Full Article More Comment & Analysis... Industry View How does Petroleo Brasileiro S.A. (ADR) compare to its industry peers? P/E (12 mo. trailing) Lower Price to Sales (12 mo. trailing) Higher Dividend Yield Higher Sales Growth (12 mo. trailing) Higher EPS (12 mo. trailing) Lower ROI (12 mo. trailing) Lower Find out more... Industry News Freescale in $17.6 bln sale pact with consortium Dynegy to buy LS Power's assets for over $2 bln Energy Transfer to buy Transwestern Pipeline More Industry News... 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