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Brazil's Petrobras starts binding phase for sale of MP Gulf of Mexico stake

Published 04/18/2022, 07:02 PM
Updated 04/18/2022, 07:05 PM
© Reuters. FILE PHOTO: The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo Whitaker

(Reuters) - Brazil's Petrobras on Monday started the binding phase to sell its subsidiary 20% stake in Texas-based MP Gulf of Mexico LLC, which owns offshore fields in the region.

Potential buyers classified for this phase will receive a letter with instructions on the divestment process, Petrobras said in a securities filing.

Murphy Exploration & Production Company owns the remaining 80% stake in MP Gulf of Mexico.

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