Commodities & Energy

Reuters exclusively reports Brazil's Petrobras studies downsizing logistics unit

Reuters exclusively reports Brazil's Petrobras studies downsizing logistics unit

Reuters exclusively reported that Brazilian state-run oil firm Petrobras is studying a mass transfer of employees out of its Transpetro logistics unit in a sign the company may be gearing up to privatize additional assets. The move comes as Chief Executive Roberto Castello Branco works to sell midstream and downstream assets in a bid to reduce debt and sharpen the focus of Petrobras on offshore oil exploration and production.