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Petrobas May Sell Nansei Sekiyu Stake

Petrobras is looking to sell a partial stake in its wholly owned Japanese oil refiner Nansei Sekiyu Kabushiki Kaisha.

    Petrobrasis looking to sell a partial stake in its wholly owned Japanese oil refinerNansei Sekiyu Kabushiki Kaisha,Bloombergreports, citingKyodo News. It will use the money from the sale to invest in deep-sea oilfield development.

    Petrobras acquired an 87.5% interest in Nansei Sekiyu fromExxon Mobilin 2008 for $50 million, while it bought the remaining 12.5% stake fromSumitomoin 2010. The Brazilian state-run company is looking to raise around $13.6 billion from the sale of its assets.

    Click here for the story fromBloomberg.

    Click here for additional coverage fromReuters.

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