Petrobras has canceled the planned share sale of its Colombian fuel distributor, Petrobras Colombia Combustibles, in accordance with its strategic guidelines focusing on profitability and sustainability.

Petrobras, the Brazilian state-controlled oil company, recently announced the termination of its plans to sell shares in its Colombian fuel distribution subsidiary, Petrobras Colombia Combustibles (PECOCO). This decision was communicated through a securities filing and follows the company’s strategic guidelines, which emphasize portfolio diversification while ensuring profitability and sustainability for the organization.

In summary, Petrobras has opted to halt the sale of its Colombian fuel asset, PECOCO, aligning with its strategic objectives of enhancing profitability and sustainability through portfolio diversification. This decision reflects the company’s current approach to maintaining its operational integrity in the region.

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