Petrobras pronounces the sale of its subsidiary in Argentina

Brazilian state oil firm Petrobras introduced immediately that it has begun promoting its stake in its Argentine subsidiary. The latter holds a 33.6 p.c stake within the Río Neuquén subject, Latin America’s largest unconventional gasoline subject.

In a press release, Petrobras mentioned it plans to divest 100% of its shares in Petrobras Operaciones (Posa), Petrobras’ Argentine subsidiary.

The sale is a part of the divestment plan introduced by Petrobras, Brazil’s largest firm, to focus primarily on oil and gasoline exploration and exploitation and scale back hundreds of thousands of {dollars} in debt.

The Río Neuquén subject is . . .

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