Petrobras speeding up asset sale to fund pre-salt production
BY JEFFREY LEWIS
BRASILIA--Brazil's state-controlled oil company, Petroleo Brasileiro, or Petrobras, has decided to speed up a plan to sell assets abroad to help finance production in its pre-salt fields, Valor newspaper reported on its website.
The oil company plans to sell refineries in Okinawa, Japan and Pasadena, California and it will also sell its 48.5% stake in Argentina power distributor Edesur, the newspaper reported without saying where it got the information.
A representative for Petrobras confirmed to Dow Jones Newswires that the company is considering selling some assets, but declined to give specific details on what might be sold.
Dow Jones Newswires