The Jamaican state refiner is partially owned by PDVCaribe, a subsidiary of Venezuela's PDVSA.
The Brazilian oil company sold its Paraguayan fuel distribution units. But also 113 convenience stores, and fuel distribution facilities at three airports.
The oil minister, Manuel Quevedo, met with authorities of the company India Realiance Industries Ltd., and the Russian oil company, Rosneft
According to ANP, the aim is to reduce bureaucracy and lower costs in oil, gas and biofuels trading.
Political analyst Thomaz Favaro from Control Risks talks to BNamericas about the changes that the October presidential election could bring to the oil and gas industry.
The firm had announced the signing of a preliminary agreement for the acquisition of the thermoplastic firm back in April.