- Petrobras (NYSE:PBR) workers begin a 24-hour strike in an attempt to stop plans to sell $15B of assets, according to the main union representing the workers.
- The union also opposes a bill before Brazil's Senate seeking to strip PBR of its right to run all new development work in the Subsalt Polygon offshore area; the bill also would end a requirement that the company take a minimum 30% stake in exploration and production rights in the area.
- PBR wants to pay down debt - which at ~$120B is the most held by any oil company - as well as generate cash for investment and revive investor confidence after the massive corruption scandal.