Petrobras Advances Divestment Drive With Japan Refinery Sale

  • Leads Ibovespa with 4.1% gain, stock at highest since 2014
  • $129 million sale to Taiyo Oil Co. includes piers, storage

Petroleo Brasileiro SA’s shares drove gains in Brazil after announcing the sale of a shuttered refinery in Japan for $129 million as it looks to raise cash and scale back international operations.

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