Petroleo Brasileiro SA, Brazil’s state-controlled oil company, will sell its two refineries in Bolivia to the Bolivian government for $112 million, ending a dispute over control of that country’s fuels market. The company will sell its refineries in Cochabamba and Santa Cruz Bolivia, Brazil’s Mines and Energy Minister Silas Rondeau told reporters in Brasilia. The Rio de Janeiro-based Petrobras, as the company is known, had valued the assets at about $200 million almost double the $104 million paid to Bolivia in 1994 for the right to operate the refineries. Full Story
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