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Real Economy News in Real Time
R/€ = 16.00 Change: 0.05
R/$ = 14.40 Change: 0.01
Au 1557.80 $/oz Change: 3.87
Pt 1021.74 $/oz Change: 0.71
 
 
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Brazil's Petrobras closes $1.5bn deal to sell stake in African JV

15th January 2020 BY: Reuters

Brazil's State-controlled oil company Petroleo Brasileiro (Petrobras) said on Tuesday it had ended its activities in Africa after closing the sale of a 50% stake in Petrobras Oil & Gas BV (PO&GBV), which holds some Nigerian oil assets.

Petrobras, as the company is known locally, said in a filing that it had sold the PO&GBV stake for just under $1.5-billion to Petrovida Holding, which is formed by Vitol Investment Partnership II, Africa Oil Corp and Delonex Energy.

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It added that with the transaction, it had "completely closed its operational activities in Africa." 

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EDITED BY: Reuters
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