Petrobras (PBR) No Longer Evaluating Purchase of Valero (VLO) Refinery
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Dow Jones is reporting that Petorbras' (NYSE: PBR) Downstream Director, Paulo Roberto Costa, has said that the company is no longer in talks to purchase a Valero (NYSE: VLO) refinery located in Aruba.
Petrobras was supposed to buy the Valero refinery in Q1 of this year, but a fire on January 25 delayed the sale and now discussions have ended completely.
Shares of Petrobras were down nearly 12% today amid crude oil prices that broke through the $100 level. Petrobras stock closed today's trading session at $40.35.
Petroleo Brasileiro S.A., or Petrobras, together with its subsidiaries, engages in the exploration, exploitation, and production of oil from reservoir wells, shale, and other rocks.
Petrobras was supposed to buy the Valero refinery in Q1 of this year, but a fire on January 25 delayed the sale and now discussions have ended completely.
Shares of Petrobras were down nearly 12% today amid crude oil prices that broke through the $100 level. Petrobras stock closed today's trading session at $40.35.
Petroleo Brasileiro S.A., or Petrobras, together with its subsidiaries, engages in the exploration, exploitation, and production of oil from reservoir wells, shale, and other rocks.
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