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Bloomberg: Petrobras considering prized oil area in divestment plan
Apr 10 2015, 14:47 ET | About: Petrobras - Petroleo Brasil... (PBR) | By: Carl Surran, SA News Editor [Contact this editor with comments or a news tip]
Petrobras (PBR +0.8%) reportedly is considering including fields from its fastest-growing deepwater oil region in a divestment plan to raise money for expenditures and debt payments.
If any deals materialize, it would be the first time PBR reduces exposure to the pre-salt region it heralded as the world’s next oil frontier nearly a decade ago.
PBR would be looking to raise nearly $14B in a market where global competitors have put billions of E&P assets up for sale; Royal Dutch Shell says it aims to sell $30B of assets globally as part of its planned purchase of BG.
Any pre-salt divestments also could be expected to spark political opposition from nationalists and would run against government policy objectives of recent years.