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LatinNews Daily - 17 October 2022
In brief: Brazil’s Petrobras to sell its operations in Argentina
*Brazil’s state-controlled oil company Petrobras has announced that it intends to sell its Argentine subsidiary, Petrobras Operaciones SA (POSA). The subsidiary has a 33.6% stake in the unconventional natural gas field located in the Rio Neuquén (Neuquén province). Argentina’s state-owned group Yacimientos Petrolíferos Fiscales (YPF) holds a 33.3% stake in the same field and Argentina-based Pampa Energía, a private energy company, holds another 33.1%. The sale of the subsidiary is part of Petrobras’s divestment plan, which aims to reduce the company’s debt and focus its operations on more lucrative assets, particularly those related to the exploration of deep-water oil reserves.
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