Offshore Activity

Brazil’s Petrobras says court lifted injunction blocking stake sales to Total

NOVEMBER 7, 2017 / 9:45 AM / Reuters Staff

SAO PAULO (Reuters) – Brazil’s state-run oil company Petroleo Brasileiro SA (PETR4.SA) said a federal court lifted an injunction related to the sale of its stakes in projects on the Iara and Lapa oil exploration areas, according to a statement on Tuesday.

The injunction was blocking the sale of a 22.5 percent stake in the Iara field and a 35 percent stake in the Lapa field to Total SA (TOTF.PA). “With this favorable ruling, Petrobras will be able to continue executing the strategic alliance with Total,” Petrobras said.

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