April 27, 2019 / 4:18 PM / 22 days ago

Brazil' Petrobras seeks $20 bln from sale of refineries

SAO PAULO, April 27 (Reuters) - Brazil’s state-controlled oil company, Petrobras, plans to raise roughly $20 billion through the sale of eight refineries, a source familiar with the matter said.

On Friday, Petrobras detailed long-awaited plans to sell refineries and other assets as the company focuses on its core oil and gas exploration business.

The source added that the sale of Petrobras’ refineries may take up to one year to complete.

Reporting Rodrigo Viga Gaier; Writing by Carolina Mandl; Editing by Steve Orlofsky

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