Petrobras divestment rules set by decree
Brazil's President Michel Temer has signed a decree establishing rules for the sale of Petrobras assets.
In order to guarantee legal certainty, transparency and best practices, the decree makes Petrobras publicize the assets on sale, although it does allow the company to keep strategic information secret.
The state-run oil company has adopted a new asset divestment system after federal audit court TCU canceled its divestment plan for 2015-16 due to irregularities.
Petrobras' current divestment plan involves the sale of U$21bn in assets in the 2017-18 period, including the sale of onshore and offshore fields, refinery stakes, Paraguayan downstream assets and the gas logistics company Transportadora Associada de Gas (TAG).
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