The state-led Brazilian firm was said to be considering offers within the Petrobras Argentina unit as part of a $14.8 billion global divestment plan.
"The executive board... decided to not approve the sale transaction from proposals obtained," the company said in a brief filing with the Bovespa bourse.
Petrobras added that the decision did not affect its overall divestment strategy articulated in its 2013-2017 business plan.
The
