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Brazil's Petrobras concludes sale of 34 oil fields for $266 million

The facade of the headquarters of Petroleo Brasileiro S.A. (PETROBRAS) is pictured in Rio de Janeiro, Brazil December 9, 2019. REUTERS/Sergio Moraes

SAO PAULO (Reuters) - Brazilian state-controlled oil company Petróleo Brasileiro SA PETR4.SA has concluded the sale of 34 onshore oilfields in the state of Rio Grande do Norte for $266 million to a PetroReconcavo SA subsidiary, according to a market filing on Monday.

The sale is part of Petrobras’ divestment plan to reduce its debt load and focus on deepwater exploration and production.

Reporting by Carolina Mandl; Editing by Leslie Adler

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