Brazil’s Petroleo Brasileiro SA (PETR4.SA), or Petrobras, is not considering selling a 10 percent stake in its giant Libra offshore oil prospect at this time, the state-run oil company said on Friday.
Petrobras was responding to a report on Tuesday by Reuters that two industry sources had been told by the company that the Libra stake was on offer. Petrobras is offering investors the chance to buy oil fields, refineries and other properties in an effort to cut debt by selling $15.1 billion of assets by the end of 2016.
A sale of the stake could fetch up to $1.5 billion, according to analysts at Macquarie, and may attract more interest than some of the other areas the company has tried but failed to sell in recent years.
Brazil Energy Insight 
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