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
07/09/2012