Petrobras

Brazil court blocks sale of Petrobras fuels distribution unit

Brazilian federal court issued an injunction to block the sale of the fuels distribution unit of state oil company Petroleo Brasileiro SA (Petrobras) after a request by workers, according to the court’s press office.

Petrobras is looking to sell a stake in BR Distribuidora, Brazil’s largest fuel distribution company, as part of a divestment program that aims to raise cash to reduce its large debt load.

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Categories: Petrobras

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