Petrobras Asset Sales Will Depends on Many Factors

Petróleo Brasileiro SA, the Brazilian state-controlled firm at the center of a massive corruption investigation, said asset divestments hinged on a number of undetermined "global and external factors", as regulators questioned it over the sale of a stake in petrochemical giant Braskem SA (BAK).

In a securities filing on Thursday, Petrobras, as the company is known, did not confirm whether the sale of a 36.1 percent stake in Braskem was in the offing. Braskem is the largest Latin American maker of resins.

Folha de S. Paulo newspaper said on Wednesday Petrobras was exiting Braskem as part of a targeted $15.1 billion in asset sales this year. At current prices, Petrobras' stake in Braskem is worth 4.8 billion reais ($1.2 billion), according to Thomson Reuters calculations.

Reporting by Guillermo Parra-Bernal