April 17, 2017 / 11:34 PM / in a year

Brazil court suspends sale of Petrobras stake in oilfield to Statoil

SAO PAULO, April 17 (Reuters) - A Brazilian court has ordered state-controlled oil company Petróleo Brasileiro SA to suspend the sale of its stake in an exploratory block to Norway’s Statoil ASA.

Petrobras, as the company is known, said in a securities filing on Monday that the deal for its stake in the BM-S-8 region known as the Campo de Carcara was approved by regulators and closed in November. Half of the $2.5 billion in proceeds have been used to repay debts, the company said, adding that it would take legal measures to defend its interests. (Reporting by Marta Nogueira Tatiana Bautzer; Editing by Cynthia Osterman)

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