Petroleo Brasileiro SA (PETR4)’s assets in Argentina are not an expropriation target after the country seized control of YPF SA (YPFD) from Spain’s Repsol YPF SA (REP), Folha de S.Paulo reported.

The Argentine government has already assured Petrobras, as the Brazilian state-run oil producer is known, that the seizure of its assets is not being considered, Folha said, citing a person with knowledge of the talks that it didn’t name.

To contact the reporter on this story: Carlos Caminada in Sao Paulo at ccaminada1@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net