Petrobras sells assets in Nigeria, ends activities in Africa

Agencia Brasil
16 Jan 2020, 00:53 GMT+10

Petrobras finalized the sale of its shares at Petrobras Oil & Gas B.V. (PO&GBV), the company producing oil in Nigeria, on Africa's west coast. The Brazilian state-controlled firm had 50 percent of the company, in a joint venture with BTG Pactual E&P B.V, and sold its shares to Canada's Africa Oil Corp. for $1.45 billion.

According to a note released Tuesday evening (Jan. 14) by Petrobras, the transaction "is in line with the optimization of the portfolio and the improvement in the company's capital allocation, aiming at generating value for its shareholders."

PO&GBV held shares in the production of three Nigerian oil fields-Agbami, Akpo, and Egina-with a 34 thousand daily average of barrels for Petrobras. The move marks the end of the company's activities in Africa.

Dê sua opiniao sobre a qualidade do conteúdo que você acessou.

Para registrar sua opiniao, copie o link ou o titulo do conteúdo e clique na barra de manifestacao.

Você sera direcionado para o "Fale com a Ouvidoria" da EBC e podera nos ajudar a melhorar nossos servicos, sugerindo, denunciando, reclamando, solicitando e, tambem, elogiando.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Johannesburg Life.

More Information

22 ℃

null in Vereeninging

International

Section

Execution on Saturday possible last Federal execution in United States

WASHINGTON, DC - Outgoing U.S. President Donald Trump's administration carried out its last federal execution when Dustin John Higgs, convicted ...

Undercover Chinese survey ship intercepted in Indonesian waters

A Chinese government survey ship was intercepted "running dark" without broadcasting its position via AIS (Automated Identification System) by Indonesian ...