TCU prohibits Petrobras to sell assets

The Tribunal de Contas da União (TCU) decided on a preliminary injunction, which Petrobras refrain to complete the asset sales projects and start new processes indefinitely or until the announcement of merit by the Court.

The decision was made on grounds of irregularities detected in the processes adopted by the State to make the "realization", which is the selling price for the realisation of assets of the State. However, it was accepted the company's request that has completed five disposals which are already in an advanced stage and whose projected revenues is r $10 billion.

The company informed that the amendments proposed by the Court didn't change the expectation of fulfillment of the goals of the Partnership program and divestiture of $15.1 billion for the biennium 2015/16, and $19.5 billion to 2017/18.


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