Companies & Finance

Brazilian court rules Petrobras must restart divestment plan

A Brazilian federal audit court has ruled that Petrobras should proceed with its divestment programme.
By Staff reporter 16 March 2017 0 25088

A Brazilian federal audit court has ruled that Petrobras should proceed with its divestment programme, but it has required the state-owned company to restart the process for all but two of the projects it is aiming to offload, according to a Bloomberg report.

Petrobras will now have to start from scratch in selling a controlling stake in its fuel distribution unit BR Distribuidora.

However, Petrobras will be able to proceed with the sale of the rights to operate the Baúna and Tartaruga Verde offshore oil fields and...