Joa_Souza/iStock Unreleased via Getty Images
Joa_Souza/iStock Unreleased via Getty Images
Brazilian antitrust regulator CADE on Tuesday approved the sale of Petrobras' (NYSE:PBR ) REMAN refinery to Ream Participações, but said the buyer would need to take measures to guarantee that other fuel distributors have access to the plant's waterway terminal.
The company had agreed to sell the refinery in Brazil's northern Amazonas state for $189.5M a year ago.
Meanwhile, Petrobras (PBR) said it had started the binding phase of selling its UFN-III fertilizer project, inviting potential buyers to bid on the plant.
Petrobras (PBR) said on Monday it will cut aviation gasoline prices for distributors by 15.7% starting September 1, marking the second time it lowered gas prices for the sector following a 5.7% decrease in early August.
Petrobras (PBR) shares slid 5.9% in Tuesday's U.S. trading, as oil and gas stocks fell across the board.