Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 17/01/2020 22:06 
15.01.2020 15:56 News >> Brazil: Petrobras Ends Operational Activities In Africa

Brazil: Petrobras Ends Operational Activities In Africa

Petrobras ends operations in Africa after selling its stake in Nigerian oil assets.

Brazil's state-controlled oil company Petroleo Brasileiro SA, known locally as Petrobras, has said it "completely closed its operational activities" in Africa.
The statement came on Tuesday after the company finalized the sale of a 50% stake in the Netherlands-based Petrobras Oil & Gas BV, which holds some 8% Nigerian oil assets, for $1.4 billion to Petrovida Holding.
Petrovida Holding is formed by Vitol Investment Partnership II, Africa Oil Corp and Delonex Energy.
Additionally, Petrobras, which has its global headquarters in Rio de Janeiro, is expected to suspend operations at its wholly-owned Araucaria Nitrogenados fertilizer plant in Parana state, the company announced in another statement.
The plant reportedly has been recording constant losses since 2013 when it was first acquired from mining conglomerate Vale.
"The decision is in line with Petrobras' strategic positioning to fully exit the fertilizer business and in line with portfolio optimization and improved capital allocation of the company," the firm explained.
Around 400 employees at the plant will be made redundant.
Petrobras, with a pumping capacity of more than 2.5 million barrels of oil a day in 13 refineries, employs around 63,000 employees.
According to its website, the company boasts a little less than 10 billion barrels of proved reserves. -



        Latest News
Canada To Give $25,000 To 57 Families Of Plane Victims -18 minutes ago...
Canada meets with Iran to further press demands.
US Sanctioning Iranian IRGC Brigadier General -18 minutes ago...
US accuses military leader of overseeing killings of 148 people during last November's mass demonstrations.
Mexico Offers 4,000 Jobs To Migrant Caravan -18 minutes ago...
There are between 2,500 and 3,000 migrants from Honduras and El Salvador making their way north.
Management Board Of Turkey's Rating Agency Announced -18 minutes ago...
Shares transfer of JCR Eurasia completed, says rating agency statement.
Turkish Football League Suffers €263M Losses: UEFA -48 minutes ago...
Turkish Super Lig clubs suffer highest damage among European leagues in 2018, says European football’s governing body.

 
      Top News
Turkey Deports 4 German Nationals For Terror Links Turkey Deports 4 German Nationals For Terror Links
Kenyans Hold Protest Against Inequality Kenyans Hold Protest Against Inequality
Erdogan Slams Syrian Regime Aggression In NW Idlib Erdogan Slams Syrian Regime Aggression In NW Idlib
Turkey's Short-Term Foreign Debt Stock Reaches $114.6B Turkey's Short-Term Foreign Debt Stock Reaches $114.6B
Mali: 15 Civilians Killed In Fulani Village Mali: 15 Civilians Killed In Fulani Village
US: Florida Court Says Felons Must Settle Fines To Vote US: Florida Court Says Felons Must Settle Fines To Vote
Haftar Promises To Respect Libya Cease-Fire Initiative Haftar Promises To Respect Libya Cease-Fire Initiative
Rights Group: Myanmar Continues To Deny Rohingya Rights Rights Group: Myanmar Continues To Deny Rohingya Rights
New Migrant Caravan Leaves Honduras Headed To US New Migrant Caravan Leaves Honduras Headed To US
Mexico Cannot Seem To Sell Government Plane Mexico Cannot Seem To Sell Government Plane