On Friday, Brazilian oil firm Petrobras announced the termination of the share sale of its fuel distributor, Petrobras Colombia Combustibles. This decision aligns with their strategic guidelines focusing on portfolio diversification and sustainability.

Petrobras, the state-run oil company of Brazil, has announced the cancellation of its planned share sale for Petrobras Colombia Combustibles, known as PECOCO. This decision was made to align with the company’s strategic guidelines, emphasizing the importance of a diversified portfolio while maintaining profitability and sustainability.

In summary, Petrobras has halted the divestiture of its Colombian fuel distribution asset, PECOCO, to uphold its strategic approach towards portfolio diversification and sustainability. This move reflects the company’s commitment to long-term profitability.

Original Source: www.tradingview.com