EnergyWatch

Scandal-ridden Petrobras makes large divestments

Heavily indebted oil major Petrobras has been selling out of assets in recent years, but future divestments could prove more difficult, according to sources speaking to the Wall Street Journal.

Photo: Petrobras

State-owned Brazilian oil company Petróleo Brasiliero – also known as Petrobras – has been selling assets over a long period of time.

The divestments have been part of the efforts to reduce the extremely large debt accumulated by the company, writes the Wall Street Journal.

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