Petrobras postpones refinery sales

Petrobras postpones refinery sales

M&A Loans Corporate & Sovereign Strategy Debt Energy Gas Regulation Brazil Coronavirus

Brazil's state-owned oil company Petrobras said on Friday that it postponed the deadline to present offers for a clutch of refineries and logistics assets being sold under a five-year divestment plan as part of prevention measures against the spread of the coronavirus. The company also said it asked to draw $8 billion from revolving credit lines to "protect itself within the current crisis" due to the COVID-19 pandemic and the sharp fall in oil prices. Petrobras had asked qualified bidders to ma

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