July 7, 2017 / 12:04 PM / 15 days ago

Brazil's Petrobras puts all its Paraguay operations for sale

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The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017.Paulo Whitaker

SAO PAULO (Reuters) - Brazilian state-controlled oil company Petróleo Brasileiro SA (PETR4.SA) disclosed on Friday the initial terms for a plan to sell the entirety of its operations in Paraguay, according to a securities filing.

Petrobras, as the firm is known, is planning to exit the natural gas distribution sector in Paraguay and sell hundreds of gasoline stations and convenience stores, the statement said. It will also look to sell its operations in three airports and a distribution unit near the Villa Elisa city.

Reporting by Bruno Federowski and Luciano Costa

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