Petrobras searching for PBIO buyer

In Brazil, Zack’s Equity Research reports that Petrobras is seeking to sell off its entire PBIO biofuels division but its 50% and 8.4% stakes in the BSBios and Bambui Bioenergia plants are part of different negotiations. PBIO owns three biodiesel facilities with combined installed capacity of 580,000 cubic meters, making it one of the largest biodiesel producers in the country. The sale of its biofuel interests is part of the company’s wider strategy to sell off as much as $30 billion in assets before 2024.