Brazil's state-run oil company Petroleo Brasileiro said on Thursday it had ...
RIO DE JANEIRO - Brazil’s state-run oil company Petroleo Brasileiro said on Thursday it had closed a $1.29 billion deal with Malaysia’s Petronas to sell 50 percent of Petrobas’ exploration and production rights in two of its offshore fields.
“Continuous portfolio management contributes to improving the allocation of capital, thereby increasing the generation of value for our shareholders, in addition to enabling the reduction of indebtedness and cost of the company’s capital,” the company’s chief executive, Roberto Castello Branco, said in a statement.
Petrobras said the value of the transaction with Petronas will be paid in two installments: $258.7 million on Thursday and $1.03 billion at the close of the transaction. The Tartaruga Verde field began operations on June 22 and currently produces about 103,000 barrels per day of oil and 1.2 million cubic meters per day of gas.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This Entrepreneur Went From $400,000 In Credit Card Debt To Selling His Business For $1.65 BillionSon of Indian immigrants, a former lawyer and now a CEO, Reggie Aggarwal took on an industry worth more than the GDP of 90% of countries in the world and built a billion-dollar business in the process.
Read more »
Netflix is selling additional $2 billion in junk bondsNetflix is returning to the junk-bond market to fund its content expansion as it faces pressure from media giants including Disney, AT&T and Apple.
Read more »
Here's why Facebook is paying a fine of $3 billion to $5 billionAs part of a 2011 agreement with the FTC, Facebook agreed to get users' consent before sharing their data with third parties, like Cambridge Analytica.
Read more »
In 2019 Boeing's Cash Flow Will Fall $5 Billion Or $9 Billion Below January ForecastThe most important thing to come out of Boeing's April 24 conference call is that it withdrew its forecast for 2019
Read more »
College: Finding The Right Major To Get The Right Career For YouToo many people pay too much money for a college education, studying the wrong things for their future. How to find your path in the educational thicket.
Read more »
Brazil's Petrobras to start publishing daily fuel prices amid strike fearsBrazil's state-run oil company Petroleo Brasileiro said on Monday that it w...
Read more »
Chevron tells Petrobras to prove Texas refinery operational: sourcesChevron Corp has told Petrobras it wants proof a Pasadena, Texas, refinery will ...
Read more »
Brazil's Petrobras revisits whistleblowers in wake of trading scandalBrazil's Petroleo Brasileiro SA is re-examining its treatment of whistleblo...
Read more »
I went to an auction at the world-famous Christie's auction house, which sold $7 billion worth of art, jewelry, and luxury goods in 2018, and it was nothing like I'd expectedI went to an auction at Christie's, where more than $30 million worth of jewelry was sold. I thought it would be stuffy and quiet — but it wasn't what I'd expected.
Read more »
He sold AppDynamics for $3.7 billion in 2016. Now he’s back with a 'self-driving approach' to software development that has Alphabet's backingHe sold AppDynamics for $3.7 billion in 2016. Now he’s back with a “self-driving approach” to software development that has GV's backing
Read more »