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2016-05-05 18:25:00

PETROBRAS SELLS $1.4 BLN

PETROBRAS SELLS $1.4 BLN

Brazilian state-run oil firm Petróleo Brasileiro SA said late Tuesday that it has sold stakes in its Argentina and Chile subsidiaries, some of the first positive signs that the company's aggressive effort to shed assets is gaining traction.

Petrobras said that it sold a 67% stake in its Petrobras Argentina subsidiary to Pampa Energía, an Argentinean energy firm, for $892 million. Petrobras had previously disclosed that it was in negotiations with Pampa Energia.

Petrobras says it also sold its Petrobras Chile subsidiary to Southern…

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Tags: PETROBRAS, OIL, GAS
Chronicle:
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