Brazil's Petrobras Finalizes Sale of Nansei Sekiyu for $165M

Reuters

SAO PAULO, Dec 29 (Reuters) – Brazil's state-run oil company Petroleo Brasileiro SA closed the sale of a 100 percent stake in Nansei Sekiyu to Taiyo Oil Company, according to a securities filing on Thursday.

Petrobras said Taiyo agreed to pay $165 million in relation to the transaction. Japan-based Nansei Sekiyu is a refinery in Okinawa with capacity to process 100,000 barrels of oil per day, according to the filing.

(Reporting by Ana Mano. Editing by Jane Merriman)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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