Reuters – Petrobras Auctioning Off Nigerian Oil Assets

Brazilian oil company Petrobras is to auction off its stakes in Nigerian oil fields to raise cash for domestic projects, a deal that may fetch up to $5 billion, Reuters reported. The state-controlled company, formally known as Petroleo Brasileiro SA, has hired Standard Chartered to run the process, which will kick off in the next two months, banking and oil industry sources said.

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