November 7, 2017 / 11:38 AM / a year ago

Brazil's Petrobras kicks off African oil venture stake sale

SAO PAULO, Nov 7 (Reuters) - Brazil's state-run oil company Petróleo Brasileiro SA on Tuesday started the sale of its stake in an African oil exploration venture as part of a wider divestiture plan.

Petrobras, as the company is known, is looking to sell its 50 percent stake in Petrobras Oil & Gas BV, or Petrobras Africa. Grupo BTG Pactual SA holds a 40 percent stake in the joint venture, while Helios Investment Partners owns the remaining 10 percent.

Petrobras Africa participates in two deepwater oil exploration blocks off the coast of Nigeria. (Reporting by Ana Mano; editing by Jason Neely)

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