Brazil’s Petrobras has finalized the sale of its Polo Rio Ventura onshore oil assets to a subsidiary of 3R Petroleum Oleo e Gas SA, the companies said in separate securities filings on Wednesday.
Petroleo Brasileiro SA, as the firm is formally known, had agreed to the sale in principle last August. When all past and future payments are considered, the value of the transaction is $94.2 million, with the final price subject to changes, depending on oil prices and other factors, 3R said.
Source: Reuters.com