SAO PAULO (Reuters) - Brazilian state-run oil company Petrobras said on Monday it has decided to halt some key asset sales after concluding a broad ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSAO PAULO - Brazilian state-run oil company Petrobras said on Monday it has decided to halt some key asset sales after concluding a broad revision of divestment processes, which were launched during the country's previous administration.
But after President Luiz Inacio Lula da Silva took office in January, some of those processes were halted and expected to be called off - including that of Bahia-Terra, which the company had already said it would not move forward with. Petrobras said on Monday its new policy for the oil exploration and production segment is based on"maximizing portfolio value by focusing on profitable assets" as it justified the decision to call off the sales.
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