Petrobras Oil Workers Begin Strike, Seek to Block Asset Sales

Brazil’s main oil union began a nationwide strike Sunday to halt asset sales by state-controlled Petroleo Brasileiro SA at a time the company is slashing investments to reduce the biggest debt load in the oil industry.

The Oil Workers Federation, known as FUP, said the nationwide strike started on Nov. 1. Some of the FUP’s regional member unions began work stoppages on Oct. 29. FUP also wants Petrobras to resume investments in the refining network and maintain Buy in Brazil policies to protect jobs, it said in the statement in its website.