- Petrobras (NYSE:PBR) denies it has hired JPMorgan Chase to handle the sale of oil exploration licenses in deep-sea areas off Brazil's coast.
- In a securities filing, PBR reiterated the need to reduce capital investments, dispose of assets and step up divestitures to preserve cash, but it also said JPM did not have a mandate to map out potential investors interested in acquiring licenses for its subsalt oil reserves.
- Reuters reported earlier this week that Petrobras had hired JPM to advise on the sale of ~$3B in assets, as fallout from Brazil's corruption scandal had shut access to financing.
Petrobras denies hiring J.P. Morgan for subsalt license sales
Recommended For You
About PBR Stock
Related Stocks
Symbol | Last Price | % Chg |
---|---|---|
PBR | - | - |
Petróleo Brasileiro S.A. - Petrobras |