GTB 737 banner 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

Views: 291


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


 

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...
Confession of a white U.S. policeman: ‘We only...

Breaking: Abducted Anambra ex-Commissioner killed by his kidnappers...

Anticipation, excitement as Japanese smartphone brand set to...

Nigerian Robin Hood robs father, uses loot to...

SGF pledges commitment towards smooth relationship with NASS...

Army parades illegal oil bunkerers in Kaduna

Nigerian Navy holds route march, assures Cross River...

Intersociety unveils names of alleged chief abusers of...

Honey to earn Nigeria $10bn

Sunny, hazy conditions to persist today in the...

Famous cleric Sunday Adelaja’s column debuts in News...

Senate probes alleged FG abuse of Treasury Single...

 

Latest News 7 labour leaders perish in auto crash Fidelity Bank seals partnership deal to empower young entrepreneurs Court orders FG to reinstate NEMA spokesperson 4 years after compulsory retirement Police on red alert over attacks on places of worship Teachers demand transfer of primary school salary to states Yudala commits to best prices nationwide for Black Friday Nigeria very close to achieving self-sufficiency in rice — Minister PDP National Convention: Okowa makes case for ‘free, fair, transparent process’ Mikel, Moses, Martins, Ikeme, Ezenwa, Oshoala, Quadri nominated for Nigerian Awards for Sporting Excellence HURIWA condemns Mubi Boko Haram attack, release of detained terrorists Obiano receives certificate of return, hails Buhari, security agencies for a good job NiMet forecasts cloudy to sunny conditions for today

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (295,498 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (279,000 views) Shameless Genevieve Nnaji exposes breasts in public (225,708 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (189,912 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (181,507 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (166,526 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (144,384 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (130,771 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (127,519 views) Lagos plane crash: Journalist releases victims’ names (116,640 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (113,939 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (108,279 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (31) Business (2,780) Business Verdict (26) Columnists (769) Complaints & Requests (93) Enterprise & Opportunities (187) Entertainment (407) Features (510) Global Business Monitor (192) International (1,652) Interviews (138) Live Commentary (28) Love Matters (84) News (30,450) Opinion (838) Pidgin (9) Politics (4,122) Religion (649) Sports (1,357) Stock Watch (24) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN Words on marble

 

 

Argentina vs Nigeria

 

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



 

 

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!