Petrobras makes biggest ever oil field sale

Petrobras made its biggest oil field sale ever to Statoil in a major step to meeting a $15.1bn divestment target as it works to cut leverage and reduce expenditures. Statoil will pay $2.5bn for Petrobras’ 66% operating interest in the BM-S-8 offshore licence in the Santos Basin, which holds the giant Carcara discovery.