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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s