Petrobras Is Currently Working to Sell Its Subsidiary Assets in Uruguay, an Operation That Was Announced Last November.
Yesterday, March 6, Petrobras Announced Information for the Sale of 100% of Its Shares in Petrobras Colombia Combustibles, Responsible for Its Fuel and Lubricant Distribution and Marketing Business in Colombia. Petrobras Starts Selling Assets of Exploration Blocks in the Pará-Maranhão Basin
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Called a Teaser, the Set of Details Provides Information for Potential Buyers, Such as the Volume of Fuel Sold, the Number of Units, and the Eligibility Criteria for Participants.
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The Shares to Be Sold Are Held by Petrobras Internacional Braspetro B.V. (PIB BV) and Other Petrobras Subsidiaries, and the Project Will Be Advised by UBS Brasil Serviços de Assessoria Financeira Ltda. The Next Steps of the Sale Do Not Yet Have a Date for Disclosure.
In the Teaser, Petrobras States That the 124 Service Stations of Pecoco are Located in Prime Locations, Especially in Bogotá. The Total Volume of Fuel Sold by the Company Was 605.8 Thousand Cubic Meters in 2019, After Two Years of Growth.
According to Petrobras, the Decision to Sell the Company “Is Aligned with the Optimization of the Portfolio and the Improvement of Capital Allocation, Aiming to Maximize Value for Its Shareholders.”
In the Last Six Years, Petrobras Has Divested Its Subsidiary Shares in Peru, Argentina, and Chile. The Company Is Currently Working to Sell Its Subsidiary Assets in Uruguay, an Operation That Was Announced Last November. It Also Sold the Control of BR Distribuidora in July Last Year in an Operation Worth R$ 9.6 Billion.
The Sales of International Assets Were Part of Petrobras’ Divestment Program (Prodesin), Foreseen in the 2013-2017 Business Plan, During Dilma Rousseff’s Government and Was the Strategy of the Then-President of the Company, Maria da Graças Foster, to Shift the Company’s Focus to Pre-Salt Exploration.
However, in 2014, the Year of the Launch of Operation Lava Jato, Petrobras Recorded Its First Loss in 23 Years, with a Negative Result of R$ 21.5 Billion in the Annual Balance Sheet. The Company Only Returned to Register Net Profit in 2018, with R$ 25.8 Billion in Positive Balance.

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