July 3, 2020 / 11:40 AM / a month ago

Petrobras begins sale of biofuels unit

SAO PAULO, July 3 (Reuters) - Brazil state-controlled oil company Petroleo Brasileiro SA has begun the sale process for its biofuels unit Petrobras Biocombustivel, the company said in a filing on Friday.

Petrobras will sell three biodiesel plants, but not stakes owned by the biofuel unit in the companies BSBios and Bambui Bioenergia (8,4%). The sale of the biofuels unit is part of the company’s large divestment program to reduce its debt. (Reporting by Tatiana Bautzer Editing by Alistair Bell)

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