BUENOS AIRES Dec 14 Brazil's state-controlled
oil company Petrobras will put assets in neighboring
Argentina up for sale on Friday, Argentine daily newspaper La
Nacion reported, quoting unnamed sources.
Late last month, a company source told Reuters that
Petrobras planned to sell all its refineries outside of Brazil
as part of an asset-sale plan aimed at helping finance expansion
According to Friday's report, Petrobras has hired Scotiabank
Brazil to manage the sale and look for possible buyers. It has
already spoken to Argentina's state-controlled energy firm YPF,
Pluspetrol, Tecpetrol and Bridas, the report said.
YPF's shares jumped over 7 percent to 90.8 pesos
per share in early afternoon trade in Buenos Aires.
Rio de Janeiro-based Petrobras owns a 31,500 barrel per day
refinery in Bahia Blanca, Argentina, and a 28.5 percent stake in
another Argentine refinery in Salta province. The 32,000-bpd
refinery is also 50 percent owned by YPF and 21.5 percent by
La Nacion said Petrobras initially planned to maintain its
interests in Argentina's giant Vaca Muerta shale energy field
and offshore in the Mar Argentino basin, where it is working
with YPF and state energy company Enarsa.
The Brazilian company also owns about 300 service stations
in Argentina, the newspaper said.
No one at Petrobras in Argentina could immediately be
reached for comment.