Petrobras loses asset sale appeal

Petrobras loses asset sale appeal

Brazil M&A

A federal court in Brazil has upheld an injunction barring Petrobras from selling two oilfields to Karoon Gas Australia."The sales process relating to the Bauna and Tartaruga [Verde] oil projects remains suspended," Karoon said in a statement. The Australian oil and gas firm said it will decide next month whether to proceed with the legal process.Petrobras said in a separate statement that it will pursue legal actions against the injunctions. It added that the court had lifted an injunction on t

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