SAO PAULO, July 18 (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA opened the path to a future sale of its Transpetro SA shipping and pipeline unit via a by-law change approved at a June shareholders’ meeting, a paper reported on Wednesday.
Under the by-law change, first reported by Brazilian paper Valor Economico, Petrobras, as the company is commonly known, may now sell over 50 percent of the subsidiary, a move that would have been prohibited previously.
However, selling the unit, formally known as Petrobras Transporte SA, is not a short-term priority, Valor said, citing a source with knowledge of the matter.
Petrobras did not immediately respond to a request for comment on Wednesday.
According to Valor, the annual earnings before interest, taxes, depreciation, and amortization of the Transpetro unit is 1.6 billion reais ($415 million).
($1 = 3.85 reais)
Reporting by Gram Slattery Editing by Chizu Nomiyama