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Brazil’s Petrobras completes sale of Alagoas Pole for US$300 million

RIO DE JANEIRO, BRAZIL - Petrobras (PETR3;PETR4) has completed the sale of its stake in 7 concessions, namely the Alagoas Pole, to Origem Energia S.A (former Petro+). The operation was finalized after Petrobras received US$240 million.

According to Petrobras, this operation is in line with its portfolio management strategy and the improvement of capital allocation, "aiming at the maximization of value and greater return to society."

"Petrobras continues to increasingly concentrate its resources on deepwater and ultra-deepwater assets, where it has demonstrated a great competitive differential over the years, producing better quality oil and lower greenhouse gas . . .

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