Petrobras (PBR) Halts Sale of Refineries to Aid Brazil Economy

The Initial Plan: Divestment of Refineries Background of the Divestment Strategy: To streamline operations and reduce debt, PBR initially announced plans to sell eight of its refineries. This move was part of a broader strategy to focus on core business areas and improve financial health. Coordinated with Brazil's antitrust watchdog, the divestment was seen as a necessary step to foster competition in the domestic refining sector and attract investment. Achievements and Challenges: By the time the divestmen ...