The legal difficulties that Brazil's Petrobras is facing in raising cash through asset sales is throwing light on the deals that are close to conclusion, including the imminent sale of the company’s stake in the St Malo field in the US Gulf of Mexico.
Brazil's federal audit tribunal (TCU) put a block on the company’s divestment programme on Thursday, until sale rules were defined more clearly.
The TCU upheld arguments that the sale procedures may be falling short of the standards set by public administration law.
These
