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Petrobras seeking debt solution to proceed with shale unit sale

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Marta Nogueira
·1 min read
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By Marta Nogueira

RIO DE JANEIRO, April 20 (Reuters) - Brazil's state-controlled oil company Petrobras is facing some challenges to keep its shale oil production unit SIX economically healthy and proceed with its sale, the company said in a statement on Tuesday.

Oil workers' union FUP said earlier on Tuesday that Petrobras was considering closing the plant if it did not reach a deal with the country's oil regulator ANP to pay roughly 1 billion reais in royalties to the southern state of Parana and to the city of Sao Mateus do Sul, where it is located.

In a statement, Petrobras said it believes all parts involved will reach an agreement, but added that it also explore different alternatives for the asset.

SIX is part of a group of assets that Petrobras put up for sale recently aiming at raising money and reduce debt.

SIX's installed capacity is of 5,880 tonnes per day, according to the Petrobras' website, and it sells its products to the states of Santa Catarina, Sao Paulo e Rio Grande do Sul. (Reporting by Marta Nogueira, in Rio, writing by Carolina Mandl, in Sao Paulo Editing by Marguerita Choy)