Petrobras Will Return to Petrochemical & Fertilizer Sectors

Source: Reuters 10/26/2016, Location: South America

Brazil's state oil company Petrobras will only temporarily exit the petrochemicals and fertizer sectors as part of an asset sale plan to reduce debt and will return in the future, the company's director for Human Resources Hugo Repsold said.

He said that Petrobras would also reduce its employee payroll to 50,000 within two years, from around 63,000 at present, as a result of voluntary redundancy schemes.


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