NewsExpress advert Yudala 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: 535


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

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Road Closure: FRSC announces additional diversion on Sagamu...

40 Boko Haram terrorists to surrender

Militants re-take control of Somali town from African...

Nigeria's PR Consultants partner Brand South Africa on...

Mutiny: HURIWA throws weight behind court martial, restates...

280 child soldiers (some as young as 11)...

Explosion brings down deputy governor’s house in Lagos...

Corruption plays key role in Nigeria’s setback —Gowon...

Olaniwun Ajayi: Exit of a Core Awoist, By...

Enugu Electoral Commission gets N310m for LG polls...

AFCON 2017: Nations Cup prepares for kick off...

Police identifies cause of Enugu explosion

 

Latest News UN staff serve strike notice Tinubu fingered in alleged plot to kill APC Troops nab herdsman with bullet-proof vest FG confirms 110 Dapchi schoolgirls missing, steps up rescue efforts FRSC rescues pregnant woman from suspected kidnappers China’s ruling party plots constitution change, 3rd term for Presidency Xi Jinping Corruption index: Nigeria’s poor ranking a wake-up call for Buhari administration — SERAP Boko Haram attacks Madagali (Adamawa) 35 times in 10 months •Kills 27, destroys over 100 houses Muslim scholars urge ‘uprising’ over US’ Jerusalem embassy move 297,000 vulnerable households get FG’s stipends in 20 states Army postpones 77 Regular Recruitment — Spokesman Jesus’s burial site shut in protest

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (327,161 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (319,386 views) Shameless Genevieve Nnaji exposes breasts in public (255,897 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (209,912 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (195,271 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (188,447 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (164,120 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (147,468 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,864 views) Lagos plane crash: Journalist releases victims’ names (130,190 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (128,890 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (123,648 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,912) Business Verdict (34) Columnists (806) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (447) Features (549) Global Business Monitor (226) International (1,809) Interviews (143) Live Commentary (28) Love Matters (106) News (33,120) Opinion (885) Pidgin (10) Politics (4,525) Religion (687) Sports (1,442) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement