Petrobras Sells Peru Assets to China

Petrobras Sells Peru Assets to China

Brazil China M&A

PetroChina has agreed to acquire Petrobras’ Peruvian oil and gas assets for $2.6bn, Petrobras says. The Petrobras Energia Peru subsidiary has three oil and gas fields in Peru, producing about 800,000 tons oil-equivalent a year. The sale comes as a part of a series of asset sales, recently including the September sale of oil blocks and pipelines in Colombia to Perenco UK for $380m. Citi advised Petrobras and Deutsche Bank advised PetroChina, according to Dealogic data. Separately, the Brazilian s

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