November 8, 2019 / 2:23 PM / 5 days ago

Petrobras wants to lower its BR Distribuidora stake even more: CEO

SAO PAULO (Reuters) - Brazil’s state-run oil firm Petrobras wants to further lower its stake in Petrobras Distribuidora SA, the fuel distribution unit it recently privatized via a share offering, the company’s chief executive said on Friday.

Roberto Castello Branco added that Petroleo Brasilerio SA, as the company is officially known, has divested 70 oil blocks so far this year.

Reporting by Roberto Samora

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