Dec. 10, 2019
Source: Reuters

Petrobras divests 34 oilfields for $266 million

Brazilian state-run Petrobras has completed the sale of 34 onshore oilfields in Rio Grande do Norte state to a subsidiary of PetroReconcavo SA. The Brazilian oil major informed about the $266 million deal through a market filing on Monday. The sale is consistent with Petrobras’ divestment strategy to lessen its debt load and focus more on deepwater exploration and production.

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