• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      CBN says cryptocurrency ban in interest of Nigerians

      February 25, 2021

      Companies-in-Action

      Zenith Bank in strong operational performance as profit rises 10.4% to N230.56bn in FY20

      February 25, 2021

      Companies

      United Capital posts strong numbers as earnings rise 50% to N12.87bn in 2020

      February 23, 2021

      Finance

      CIBN revives mentorship initiative for bank workers

      February 20, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Insurance Business

      Enterprise risk management surges amid pandemic, RIMS reports

      February 25, 2021

      WORLD BUSINESS & ECONOMY

      Hyundai to recall 82,000 electric cars over battery malfunction

      February 25, 2021

      Frontpage

      Global health insurance premiums fall amid pandemic, says new report

      February 24, 2021

      Frontpage

      Insurance M&A record highest growth in Africa, Middle East in 2020

      February 23, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Oil and Gas

      REA delivers 100kW hybrid solar mini grid to Edo community

      February 25, 2021

      Oil and Gas

      OPL 310: LEKOIL engages Optimum Petroleum over CRSA agreement

      February 25, 2021

      Frontpage

      Nigeria still losing 200,000bpd crude daily as NNPC enlists army’s intervention

      February 25, 2021

      Frontpage

      Nigeria to sell 170MW electricity capacity to Togo from Calabar plant

      February 24, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      The bull run still has legs despite inflation concerns

      < 1 min

      Analyst Insight

      Incorporating three lines of defence in data privacy schemes

      < 1 min

      Analyst Insight

      Coronation MB analysts project sharp rates rise after Nigeria recession exit

      February 25, 2021

      Analyst Insight

      How NITDA can further foster data protection compliance in Nigeria

      February 22, 2021

Frontpage

Brazilian Petrobras close to selling stake in Nigeria’s deepwater oil blocks for $1.3bn

Avatar-2
Bukola Odufade

Bukola Odufade is Businessamlive Reporter.
You can contact her on bukola.odufade@businessamlive.com with stories and commentary.

July 10, 2018987 views0 comments

Brazilian state-controlled oil company, Petrobras, which holds stake in two Nigerian deepwater oil exploration blocks is said to be close to agreeing the sale of the stake for about $1.3 billion, sources close to the sale discussions have revealed on Tuesday.

Petrobras Africa, the African arm participates in two deepwater oil exploration blocks in Nigeria that contain the Akpo and Agbami producing fields and are operated by Total and Chevron respectively.

Petrobras owns 50 percent of Petrobras Africa with Grupo BTG Pactual SA holding 40 percent stake in the venture and Helios Investment Partners owning the remaining 10 percent.

It was understood Tuesday that all three shareholders would sell their stakes, valuing the venture at around $2.6 billion, according to sources not wishing to be disclosed because they were not authorised to speak on the matter.

Read Also:

  • Nigeria records 6% drop in vessel traffic
  • Unilever Nigeria to complete tea business separation by end of 2021
  • Nigeria’s reserves down $1.38bn in 30 days amid rising oil prices
  • Nigeria’s CcHub declares success in 3 premier investments made through…
  • Nigeria to sell 170MW electricity capacity to Togo from Calabar plant

A consortium led by Vitol SA is reported to have entered exclusive talks to acquire stakes in Petrobras Africa, emerging as a winner from a number of bidders.

Petrobas is heavily indebted and unveiled plans to sell that stake in November as part of a divestment program aiming to offload $21 billion in assets by the end of 2018.

Share on Facebook Tweet Email
TagsChevron Grupo BTG Pactual SA holding Helios Investment Partners Petrobras Africa Total
PreviousNigerian naira appreciates against US dollar across market windows
NextAfrica Investment Forum will help de-risk investment and catalyze private sector

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • The bull run still has legs despite inflation concerns
  • Africa and the decade of COVID-19 (5)
  • Reworking Public Sector: AI and public service delivery
  • Incorporating three lines of defence in data privacy schemes
  • How India Could Win Its COVID Vaccination Race

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

OML 17: Elumelu gets Afreximbank’s $250m of $1.1bn TNOG’s 45% acquisition fund

Frontpage January 28, 2021

1
2

Naira stability: CBN spends $25.68bn in eight months

Nigeria November 15, 2019

3

Nigeria interbank offer rate peaks at 126.7% as liquidity crunch hits banks

Frontpage June 13, 2017

4

Senate will pass Buhari’s $29.96bn loan request, says Lawan

Frontpage December 17, 2019

5

Ease of doing business: Nigeria moves up 15 spots on ranking

Frontpage October 24, 2019

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.