Brazilian state-run oil company Petrobras said on Monday it has decided to halt some key asset sales after concluding a broad revision of divestment processes, which were launched during the country's previous administration. The oil giant said in a securities filing it will no longer sell the onshore Urucu and Bahia-Terra clusters, as well as the Manati oilfield and Petrobras Operaciones, its subsidiary in Argentina. The divestment processes had been kicked off by Petrobras' previous management under former President Jair Bolsonaro, as the company sought to sell non-core assets to focus on deepwater oil exploration and reduce its debt.
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