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Brazil's Petrobras closes $1.5bn deal to sell stake in Nigerian joint venture

Published by New Telegraph on Thu, 16 Jan 2020


Brazil's state-controlled oil company Petroleo Brasileiro SA said on Tuesday it had ended its activities in Africa after closing the sale of a 50% stake in Petrobras Oil & Gas BV (PO&GBV), which holds some Nigerian oil assets. Petrobras, as the company is known locally, said in a filing that it had sold the PO&GBV stake for just under $1.5 billion to Petrovida Holding, which is formed by Vitol Investment Partnership II, Africa Oil Corp and Delonex Energy, reports Reuters. It added that with the transaction, it had 'completely closed
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