Petroleo Brasileiro SA is expanding in the Netherlands, where the world’s most indebted oil company can reduce taxes and costs, said two people briefed on the plan.
Petrobras, as Brazil’s state-run producer is known, is relocating staff ranging from geophysicists to financial administrators to Dutch offices that will handle its African joint venture with Grupo BTG Pactual SA, said the people, who asked not to be identified as they aren’t authorized to speak publicly. Until now, African operations were handled locally and from Rio de Janeiro, and the Dutch unit didn’t have active business operations, one of the people said.
