We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Petrobras (PBR) to Sell Full 27.88% Stake in Deten Quimica
Read MoreHide Full Article
PetroleoBrasileiro S.A. or Petrobras (PBR - Free Report) recently commenced the sale process of its entire 27.88% ownership in the petrochemical company DetenQuímica S.A. (Deten). Per management, the plan is in sync with the company’s strategy to reduce expenses and enhance its capital allocation to maximize shareholder value.
Located in the Camaçari industrial complex in Bahia, Deten petrochemical is the sole national manufacturer of Linear Alkylbenzene (LAB) and involved in manufacturing and selling of the major raw ingredients used in the production of biodegradable liquid and powder detergents.
Also last month, Petrobras inked a deal to sell its overall stake in the Rabo Branco field to PetromProdução de Petróleo&Gás Ltda. (Petrom). The whole deal value worth $1.5 million was deposited in a guarantee account in favor of the company. Management confirms that the plan is consistent with its overall cost-reduction goal and capital-deployment improvement.
The onshore field of Rabo Branco is located to the south of the Carmópolis field in the Sergipe-Alagoas Basin of the state of Sergipe. The state-run energy giant owns 50% interest in this concession while the remaining part is held and operated by Produção de Óleo e Gás Ltda. or Petrom.
Company Profile
Petrobras is the largest integrated energy firm in Brazil and one of the biggest in Latin America. The company’s activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks. Its operations also include refining, processing, trading and transportation of oil and oil products, natural gas and other fluid hydrocarbons apart from other energy-related operations.
Zacks Rank & Other Key Picks
Petrobras currently sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the energyspace include Sprague Resources LP , SilverBow Resources Inc. (SBOW - Free Report) and Continental Resources, Inc. , each presently sporting a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
Petrobras (PBR) to Sell Full 27.88% Stake in Deten Quimica
PetroleoBrasileiro S.A. or Petrobras (PBR - Free Report) recently commenced the sale process of its entire 27.88% ownership in the petrochemical company DetenQuímica S.A. (Deten). Per management, the plan is in sync with the company’s strategy to reduce expenses and enhance its capital allocation to maximize shareholder value.
Located in the Camaçari industrial complex in Bahia, Deten petrochemical is the sole national manufacturer of Linear Alkylbenzene (LAB) and involved in manufacturing and selling of the major raw ingredients used in the production of biodegradable liquid and powder detergents.
Also last month, Petrobras inked a deal to sell its overall stake in the Rabo Branco field to PetromProdução de Petróleo&Gás Ltda. (Petrom). The whole deal value worth $1.5 million was deposited in a guarantee account in favor of the company. Management confirms that the plan is consistent with its overall cost-reduction goal and capital-deployment improvement.
The onshore field of Rabo Branco is located to the south of the Carmópolis field in the Sergipe-Alagoas Basin of the state of Sergipe. The state-run energy giant owns 50% interest in this concession while the remaining part is held and operated by Produção de Óleo e Gás Ltda. or Petrom.
Company Profile
Petrobras is the largest integrated energy firm in Brazil and one of the biggest in Latin America. The company’s activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks. Its operations also include refining, processing, trading and transportation of oil and oil products, natural gas and other fluid hydrocarbons apart from other energy-related operations.
Zacks Rank & Other Key Picks
Petrobras currently sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the energy space include Sprague Resources LP , SilverBow Resources Inc. (SBOW - Free Report) and Continental Resources, Inc. , each presently sporting a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>