Petrobras to Sell Eight Refineries

Brazil’s state-controlled oil company Petrobras said on Friday its board had approved a plan to sell eight refineries in Brazil, including its large, recently built Abreu e Lima unit, according to a securities filing.

Petrobras, or Petroleo Brasileiro SA, said that among the other refineries to be put up for sale are the Gabriel Passos, Getulio Vargas, and Alberto Pasqualini units.

The company also reported it will sell a gas station chain in Uruguay and an additional stake in Brazil’s No. 1 fuel distribution company BR Distribuidora SA.