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Petrobras to restart asset sales on orders of audit court

 

 

BRASILIA
Petroleumworld.com 03 16 2017

Brazil's federal audit court TCU on Wednesday allowed state-run oil company Petroleo Brasileiro SA to proceed with its divestment program, but required the company to restart the process except for two projects.

Petrobras had been prevented from signing any new asset sales while TCU reviewed its procedures. The two assets that Petrobras will be able to sell without restarting the process from scratch were not disclosed by court.

Reporting by Leonardo Goy; Writing by Silvio Cascione; Editing by Sandra Maler from Reuters .

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