Brazil's Petrobras to Start Talks for Sale of Argentina Stake

Reuters

SAO PAULO, March 2 (Reuters) - The board of Brazil's state-run oil company Petroleo Brasileiro Sa has approved the start of exclusive negotiations to sell its stake in Petrobras Argentina to Pampa Energy, according to a securities filing on Wednesday.

In a separate filing, the company said its board had approved the start of a competitive process to sell rights to explore and develop a group of onshore oil fields, along with related assets, without naming possible buyers.

(Reporting by Brad Haynes and Priscila Jordao Editing by W Simon)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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