Brazil - 03

Brazil: Petrobras Divestment Plan Foreshadows Gradual Opening to Investors

A 3 June Reuters report citing anonymous sources disclosed that Petrobras has allegedly hired Bank of America Merrill Lynch to help it manage a multi-billion dollar divestment operation. The sources quoted in the report noted that a number of IOCs have already been contacted regarding the plan. These same sources reported that the divestment plan could involve granting the operation of fields to IOCs, a decision that would involve changes in the current regulatory framework, as Horizon has been anticipating.

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