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Brazil's Petrobras says it has begun sale process for four refineries

FILE PHOTO: Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil December 5, 2018. REUTERS/Sergio Moraes/File Photo/File Photo

SAO PAULO (Reuters) - Brazil state-controlled oil company Petroleo Brasileiro SA said on Friday it had begun the process for selling four of its refineries, as part of a broader plan to sell eight of them, the equivalent of half of its refining capacity in the country.

Petrobras, as the company is known, said in a securities filing that it would sell the refineries Rnest, in the state of Pernambuco; Rian, in Bahia; Repar in Parana; and Refap in Rio Grande do Sul.

On Thursday, Petrobras CEO Roberto Castello Branco said he expected to sell at least one refinery this year.

Reporting by Roberto Samora; Editing by Chizu Nomiyama

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