SAO PAULO: Brazil's state-run oil company Petroleo Brasileiro SA on Tuesday started the sale of its stake in an African oil exploration venture as part of a wider divestiture plan.
Petrobras, as the company is known, is looking to sell its 50 percent stake in Petrobras Oil & Gas BV, or Petrobras Africa.
Grupo BTG Pactual SA holds a 40 percent stake in the joint venture, while Helios Investment Partners owns the remaining 10 percent.
Petrobras Africa participates in two deepwater oil exploration blocks off the coast of Nigeria.
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