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Thursday, February 21, 2013

Petrobras to sell Argentine oil assets for $400 million -source, (NYSE: PBR), (NYSE: PBR-A)

Brazil's state-led oil company Petroleo Brasileiro SA is in advanced talks to sell stakes in its refineries and other assets in Argentina for $400 million to Argentine company Oil Combustibles, a source close to Petrobras said on Thursday.Reuters reported in November that Petrobras, as the company is known, was interested in selling its stakes in the Dr. Ricardo Eli�abe refinery in Buenos Aires and in the Refinor refinery in the province of Salta.Petrobras began taking offers for its Argentine assets in December as part of its plan to sell an estimated $14.8 billion of assets to help finance a $237 billion five-year expansion plan, the world's largest corporate investment program.In December, Reuters reported that Petrobras was having trouble selling some assets, including $4 billion of offshore oil and gas exploration licenses in the Gulf of Mexico.

Petroleo Brasileiro SA Petrobras (Petrobras) is a Brazil-based integrated oil and gas company. Shares of PBR fell by 2.32% or $-0.365/share to $15.38. In the past year, the shares have traded as low as $15.70 and as high as $30.65. On average, 15758500 shares of PBR exchange hands on a given day and today's volume is recorded at 8678641.

Petroleo Brasileiro SA Petrobras (Petrobras) is a Brazil-based integrated oil and gas company. Shares of PBR-A fell by 1.57% or $-0.28/share to $17.57. In the past year, the shares have traded as low as $16.69 and as high as $29.17. On average, 9823530 shares of PBR-A exchange hands on a given day and today's volume is recorded at 2535549.



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