Brazilian Judge Halts Petrobras’ Gaspetro Sale to Japan’s Mitsui

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – A Brazilian federal judge has suspended the sale of 49 percent of Petrobras' subsidiary, Gaspetro, to Japan’s Mitsui Brazilian subsidiary for R$1.93 billion (US$700 million). According to the law official, the operation closed at the end of December 2015 was not fully explained and transparent and may bring losses to the Brazilian oil company and public finances.

“If the commercial operation is not immediately suspended there is the serious risk of not being able to recover the losses incurred from it, such as occurred with Pasadena . . .

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