Petrobras To Sell “Junk” Oil Fields To Pay Debt

Brazilian state-owned oil giant Petrobras plans to sell nine oil fields as part of its previously announced move to lower the company’s massive debt. The Wall Street Journal reported on 4 July the company is seeking buyers for the shallow-water oil fields located in the northeastern states of Ceará and Sergipe, which produced on average some 13,000 barrels of oil and natural gas per day in 2015. The sites themselves account for 0.5 percent of total output for Petrobras and are unlikely to significantly cut into the firm’s $126…

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Petrobras To Sell “Junk” Oil Fields To Pay Debt

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