Chevron closed the sale of its 51.74% stake in Frade to Petrorio, which will assume the operation of the asset in the Campos Basin, with 70% — last year, the company had bought 18.26% of Frade Japan, one of the consortium members, while Petrobras has 30% .
The agreement between Petrorio and Chevron includes 50% of the CE-M-175 block in the Ceará basin. Petrorio is making the purchase of the subsidiaries Chevron Brasil Upstream Frade Ltda and Chevron Frade LLC. Keeping an eye on the feirão of oil blocks, according to the American company, the interest in Brazil is now in the pre-salt.
Chevron purchased the Pasadena refinery for US $562 million, which belonged to Petrobras. For the company, the logic of the acquisition would be to process the growing volume of shale oil from its operations in Texas. Petrobras confirmed the deal.
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