BRIEF-Brazil’s Petrobras close to concluding sale of Petrobras Argentina

Jul 14, 2016 5:02pm EDT

Chief executive of Brazil’s state-run oil company Petroleo Brasileiro SA, Pedro Parente, said on Thursday the company was close to completing the sale of Petrobras Argentina

* The sale of its Argentine asset is part of a larger divestiture plan intended to reduce the companies debt load

* Parente said the company received three proposals for sale of participation in its fuel distribution unit BR Distribuidora

* The executive added that the company has liberty to set fuel pricing in Brazil

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