Fidelity bank banner UBA 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: 889


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...
$2.5bn Scandal: DSS releases Aisha’s ADC

Magu did not divert staff salary — EFCC...

Let the judiciary assert its independence, By Ebun-olu...

BP to slash thousands more jobs in face...

APC shifts presidential primary

Church shelters 1,500 fleeing Muslims

2014 World Cup Qualification Battle in Addis Ababa:...

New salary for police soon

Black Soot: Wike orders arrest of 15 mechanics...

BREAKING: End of the road for kidnap kingpin...

Suspected herdsmen attack rivers community

Group canvasses appointment of Comrade Chuma as APGA...

 

Latest News Toxicity of soccer racism 2023: No Igbo presidency, no Nigeria — South East activists Labour unfolds plans to disgrace debtor-governors Tension in South East as Police, IPOB engage in show of force Bandits kill 22 in fresh Zamfara attack Rivers Tragedy: Father kills four children, sets home ablaze, hangs self Ndigbo must return home during elections — MASSOB Nigerians open one million bank accounts monthly: NIBSS Déjà vu: I fear it will be unto Buhari as it was unto Jonathan in 2015, By Fredrick Nwabufo Heirs Holdings signs $600m facility deal with Afrexim Bank, poised to scale up energy investments Delta First Lady calls for lasting solution to challenges facing education sector Why Atiku was absent at signing of Peace Accord — PDP

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (429,820 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (394,759 views) Shameless Genevieve Nnaji exposes breasts in public (327,661 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (280,981 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (247,796 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,235 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,068 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,279 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (179,550 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,409 views) Lagos plane crash: Journalist releases victims’ names (167,207 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,671 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,874) Business Verdict (54) Columnists (973) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (312) International (2,810) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (69) News (41,366) Opinion (1,150) Pidgin (13) Politics (8,132) Religion (911) Sports (1,817) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera