Brazil’s Petrobras Confirms Divestment Plans, Announces Board

Supreme Court Chief Justice suspends decision that would make it hard for Petrobras to sell its assets.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Brazil’s oil giant, Petrobras, has announced will resume its divestment program following the decision of Supreme Court Chief Justice, Jose Antonio Dias Toffoli. On Saturday, Toffoli suspended a decision by Supreme Court Judge Marco Aurelio Mello that made it difficult to sell part of Petrobras' assets.

“The company will resume the publication of possible opportunities related to new E&P divestment projects,” read the statement released by the company on Monday.

“Petrobras reinforces the importance of the Partnerships and Divestments Program to reduce its level of indebtedness and . . .

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