Deals
Petrobras Reviewing Peru Gas Project Amid Brazil Focus
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Petroleo Brasileiro SA, Latin America’s largest company by market value, is reviewing its investment in a joint natural-gas project with Repsol SA in Peru as it focuses spending on oil reserves in Brazil.
Petrobras, as the company is known, “is reviewing its investments in Block 57” to determine what will be done with the project’s output, the company’s press office said in an e-mailed response to questions yesterday. The Rio de Janeiro-based company is divesting assets to focus on developing its offshore oil reserves after reporting its first quarterly loss in 13 years in the second quarter.