Petrobras Inks $2.2B Deal With Total To Sell Assets

Reuters

BRASILIA, Dec 21 (Reuters) - Petroleo Brasileiro SA said on Wednesday it agreed with France's Total SA to sell $2.2 billion worth of assets that include stakes in oilfields and two thermal power stations.

Petrobras, as the company is known, will receive $1.6 billion in cash when the agreement its closed and the rest over the length of the partnership with Total. The agreement also gives Petrobras the option of acquiring a stake in a Gulf of Mexico field owned by Total and Exxon Mobil Corp.

(Reporting by Martha Nogueira; Writing by Tatiana Bautzer and Alonso Soto; Editing by Chris Reese)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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