Petrobras to sell all 197 petrol stations in Paraguay

Petróleo Brasileiro S.A. (Petrobras) has announced plans to sell all of its assets in Paraguay, according to a company release.

As part of its ongoing divestment plan, the Brazilian state-run energy giant wants to offload its stake in Petrobras Paraguay Distribución Limited (PPDL UK), Petrobras Paraguay Operaciones y Logística SRL (PPOL), and Petrobras Paraguay Gas SRL (PPG).

Through these companies, Petrobras has become the leading fuel distributor in Paraguay with a network of 197 service stations.

With 113 stores, it operates one of the largest and most established convenience store chains in the country.

Petrobras also has investments in the aviation sector, LPG and lubricants distribution, and logistics.

"The Potential Transaction offers to the interested parties a unique opportunity to obtain access or strengthen their presence in one of the most promising markets in Latin America through an international benchmark platform," stated Petrobras.