Petrobras exits Africa

Petrobras exits Africa

M&A Equity Energy Gas Brazil Africa

Brazil's state-owned oil company Petrobras said it has closed the sale of its 50% stake in a joint venture in Nigeria and ceased operations in Africa. Petrobras pocketed $1.45 billion from the sale of half of Petrobras Oil & Gas B.V. (PO&GBV) to PetroVida from the Netherlands, the Brazilian company said in a statement. Petrobras agreed in November 2018 to sell its share in PO&GBV to PetroVida for $1.53 billion. PetroVida was formed by the Canadian oil and gas company Africa Oil with

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