Petrobras to sell Argentina unit

Petrobras to sell Argentina unit

Corporate & Sovereign Strategy Equity Argentina Brazil Capital Markets Gas

Brazilian state-controlled oil and natural gas company Petrobras said Friday that it has put up for sale its stake in Petrobras Operaciones (POSA), a fully-owned subsidiary in Argentina. POSA owns a 33.6% stake in the natural gas field of Rio Neuquén, according to a securities filing. The company said it issued a teaser on its website to present criteria for the selection of potential candidates. In September, POSA produced 1.5 million cubic meters per day of natural gas and 700 barrels per day

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