Petrobras, Total Ink $2.25 bln Production Pact

Posted by Joseph Keefe

Petróleo Brasileiro SA and France's Total SA have
signed final terms of a $2.25 billion joint venture involving the
sale of assets as well as stakes in oilfields and two thermal
power stations.

Petrobras, as the state-controlled oil producer is known, will
receive $1.6 billion in cash as part of the agreement, and have
the option to access a $400 million credit facility from Total,
according to a securities filing.

Reporting by Guillermo Parra-Bernal

Mar 1, 2017

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