Brazil’s state-controlled oil company Petrobras will leave the gas distribution business in Brazil, disposing of all of its assets in the area. Petrobras, which is selling tens of billions of dollars of assets to cut debt and refocus on deepwater offshore exploration and production, has already completed some major sales in gas distribution. In 2016, Petrobras sold its NTS gas pipeline unit in southern Brazil to a consortium led by Brookfield Asset Management SA for USD5.2 billion. In April it sold its TAG unit in northern Brazil to France’s Engie SA for USD8.6 billion. Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
