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Petrobras plans to include Texas, African assets to asset sale plan

Published 05/10/2017, 02:27 PM
© Reuters.  Petrobras plans to include Texas, African assets to asset sale plan
XOM
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PBR
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  • Petrobras (PBR +3.3%) proposes adding a Texas refinery whose purchase a decade ago has been the subject of criminal investigations and its 50% stake in an African oil exploration venture to a list of assets it has put up for sale by the end of next year.
  • Bloomberg reported earlier this week that PBR could raise less than $200M with the sale of the Pasadena, Tex., refinery, down from the $1.2B it originally paid.
  • Separately, PBR denies speculation that it is in talks with Exxon Mobil (XOM -0.5%) about a strategic alliance, saying no negotiations are in progress with XOM although it is regular contact with other oil and gas firms to "assess opportunities and share experiences."
  • Now read: Exxon's Mozambique LNG Acquisition Demonstrates Strategic Advantage


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