Brazil’s Courts Authorize Petrobras to Sell Assets

With the aggressive divestment program, the company hopes for US$21 billion in revenues by 2018.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The Accounting Court (TCU) in Brazil authorized on Wednesday the country’s oil giant, Petrobras, to resume the sale of some of its assets. The company hopes, along partnership accords, its divestment program will bring US$21 billion in revenues by 2018.

“Such decision is crucial for the company to move forward with its Divestment Plan, which is considered one of the main pillars to achieve the goal of reducing leverage,” stated the company in a press release on Wednesday after the decision.

According to Petrobras the decision will allows . . .

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