Petro­bras to sell Paraguay as­sets

China Daily (Hong Kong) - - BUSINESS -

Brazil’s state-owned oil com­pany Petro­bras said it will sell all its as­sets in Paraguay, as part of its plan to di­vest as­sets worth $21 bil­lion in 2017 and 2018 to try to lower its high debt. In a state­ment, Petro­bras said it would sell its shares in the fol­low­ing sub­sidiaries, Petro­bras Paraguay Dis­tri­bu­tion Ltd, Petro­bras Paraguay Opera­ciones y Lo­gis­tica SRL and Petro­bras Paraguay Gas SRL. Cur­rently, the Brazil­ian firm is the largest dis­trib­u­tor of fuel in Paraguay, where it has 197 petrol sta­tions and 113 con­ve­nience stores. The drop in oil prices, Brazil’s fi­nan­cial cri­sis and the rev­e­la­tion of a sprawl-

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