News

Sale of distribution assets in Chile

Read our announcement: Petrobras has completed negotiations with the Southern Cross Group on the main terms and conditions for the sale of 100% of Petrobras Chile Distribución Ltda. (“PCD”), owned through Petrobras Caribe Ltd. Southern Cross Group is a private equity fund, founded in 1988, with USD 2.9 billion of assets under management and focuses on investments in Latin America, in companies in the manufacturing, services, logistics and consumer goods sectors.

Sale of Petrobras Argentina

Read our announcement: Petrobras has completed negotiations with Pampa Energía on the main terms and conditions of the sale of its stake in Petrobras Argentina (PESA), owned by Petrobras Participaciones S.L. ("PPSL"). Pampa Energía, a public traded company, is an integrated energy company in Argentina operating in the oil and gas sector as well as in the generation, transmission and distribution of electric energy sector.

Composition of the new Executive Board is approved

Read our announcement: This Wednesday (March 30th) the Petrobras Board of Directors approved the names put forward for executive posts at the company, in line with the new administrative structure that was outlined in January. With the company’s new governance and organizational management model, there will be a 43% cut in the approximately 5,300 administrative posts in non-operational areas, well over the initial target of 30%.