Fidelity bank banner Bayelsa State banner
Petrobras, BTG Pactual to sell Nigerian oil venture

By News Express on 10/11/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 780


State-controlled oil company Petroleo Brasileiro SA (Petrobras) is leading an effort to sell Petrobras Oil and Gas BV (Petrobras Africa), after being joined in the sale by shareholders Grupo BTG Pactual SA and Helios Investments, it said on Thursday.

Heavily indebted Petrobras announced plans this week to sell its 50 percent stake, and began sending information on the company to potential investors.

It has been joined in the sale by BTG Pactual E&P BV, a subsidiary of investment bank Grupo BTG Pactual SA, and Helios Investments, who will offer their respective 40 percent and 10 percent stakes.

Grupo BTG Pactual tried to sell its stake separately earlier this year. It held talks with a group of Nigerian investors but failed to reach an agreement, a source with knowledge of the matter told Reuters. BTG Pactual did not immediately comment.

Petrobras, the world’s most indebted oil company and focus of a massive corruption scandal, is seeking to offload $21 billion in assets through 2018 and has moved aggressively to cut debt.

Petrobras Africa participates in two deepwater oil exploration blocks off the coast of Nigeria that contain the Akpo and Agbami producing fields and are operated by Total SA and Chevron Corp respectively. (Reuters)

Source News Express

Posted 10/11/2017 11:35:26 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Crazed fan pulls Beyoncé off stage during performance...

Abia artisans appeal to govt. for infrastructure

Angry APC youths attack Governor Obaseki’s convoy

APC guber aspirant, Tilije, dumps party for PDP...

NFF replaces Keshi with Amodu

Ogah and metaphor of the fast lane, By...

Enugu Governor in coma: Report

Anambra alerts on imminent flood disaster

Tinubu felicitates with Ebenezer Obey at 75, says...

Commission set to unleash 8,700 troops on Boko...

Dogara to minority tribes: Evolve ways of preserving...

Truck Accidents: NANS protests students’ deaths on highway...

 

Latest News Dud Cheque: Court orders arrest of Senator Uzodinma APC reschedules presidential primary Schools shut in Anambra as flood disaster takes toll Sen. Dariye picks APC nomination form from prison Police Academy raises alarm over fake admission list Italian priest kidnapped in Niger APC must retain Osun, Buhari advises •Storms Osogbo with other party leaders to canvass votes for Oyetola Politicians in Borno recruiting armed thugs — NSCDC Artificial ripening of fruits causes cancer, liver, kidney diseases — Experts Flood: 30,000 persons displaced in Edo; 42 communities submerged Police warns against vandalism of campaign billboards Japanese billionaire set to be the pioneer tourist to the Moon

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (393,785 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (375,382 views) Shameless Genevieve Nnaji exposes breasts in public (306,849 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (249,593 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (231,078 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,057 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (199,079 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (180,700 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (164,769 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (162,852 views) Lagos plane crash: Journalist releases victims’ names (157,470 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,387 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (62) Business & Economy (3,605) Business Verdict (51) Columnists (927) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (546) Features (651) Global Business Monitor (299) International (2,402) Interview (164) Live Commentary (28) Love Matters (143) News (38,945) Opinion (1,103) Pidgin (11) Politics (6,618) Religion (866) Sports (1,693) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

I am Imo State's New Governor -- Okorocha's son-in-law Uche Nwosu...

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement