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Brazil: Petrobras refineries sale should take 2 to 3 years

Brazil's Administrative Council for Economic Defense (CADE) is in the 4th revision of the term of cessation of conduct (TCC) of refining, which requires Petrobras to sell 8 of its refineries.

According to counselor Gustavo Augusto Freitas de Lima, the process should be completed in the next 2 to 3 years.

"What are we renegotiating? The timeframe. We are saying at what point Petrobras has to do the teaser [stage of launching the divestiture process]. This timeline is what has been discussed a lot," he said in an interview with Poder360.

The agreement between Petrobras and CADE was signed . . .

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