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Brazil's Petrobras says court lifted injunction blocking stake sales to Total
November 7, 2017 / 11:45 AM / 13 days ago

Brazil's Petrobras says court lifted injunction blocking stake sales to Total

SAO PAULO (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA (PETR4.SA) said a federal court lifted an injunction related to the sale of its stakes in projects on the Iara and Lapa oil exploration areas, according to a statement on Tuesday.

The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo Whitaker

The injunction was blocking the sale of a 22.5 percent stake in the Iara field and a 35 percent stake in the Lapa field to Total SA (TOTF.PA). “With this favorable ruling, Petrobras will be able to continue executing the strategic alliance with Total,” Petrobras said.

Reporting by Ana Mano, editing by Louise Heavens

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