Petrobras has signed a sale and purchase agreement with the Southern Cross Group for 100% of Petrobras Chile Distribuición Ltda (PCD), held through Petrobras Caribe Ltda.


PCD is Petrobras’fuel distribution company in Chile. It has 279 gas stations, 8 distribution terminals, operations at 11 airports, stakes in 2 logistics companies, and 1 lubricant plant.


The Southern Cross Group is a private equity firm founded in 1998, with US$2.9 billion of assets under management, which focuses on investments in Latin America, in companies in the industrial, service, logistics and consumer goods sectors.

The estimated cash inflow from the deal is US$464 million. The deal’s completion is expected to take three to four months, subject to compliance with certain prior conditions, as established in the agreement and customary for this kind of operation.

This transaction, carried out through a competitive bid process, is an important part of Petrobras’2015-2016 Disposal Plan.

About Petrobras

We have upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.

We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.