By RODRIGO ORIHUELA
Petroleo Brasileiro SA (Petrobras), Latin Americas
largest publicly-traded oil producer by revenue, hired Bank
of Nova Scotia to sell assets in Argentina including a refinery
, said a person with
direct knowledge of the plans.
Scotiabank is mandated to sell a 31,000-bpd refinery
in the city of Bahia
Blanca, Buenos Aires province, as well as two petrochemical
plants and oil and
gas fields and stakes, said the person, who asked not to be
identified because negotiations are private.
The assets all belong to Petrobras Argentina SA, a unit of
the Rio de Janeiro-based producer.
Petrobrass press office and Joe Konecny, a Scotiabank
spokesman, both declined to comment in e-mailed responses to
Petrobras is seeking to focus its non-Brazilian operations on
the discovery and development of new reserves as part of a
strategic plan presented last month by CEO Maria das Gracas
The company last year called off the sale of its Argentine
unit after offers missed expectations, according to a
statement at the time. In Argentina, Petrobras is looking to
develop shale and tight oil and gas reserves.