Petrobras (PBR) No Longer Evaluating Purchase of Valero (VLO) Refinery

Dow Jones is reporting that Petorbras' (NYSE: PBR) Downstream Director, Paulo Roberto Costa, has said that the company is no longer in talks to purchase a Valero (NYSE: VLO) refinery located in Aruba.

Petrobras was supposed to buy the Valero refinery in Q1 of this year, but a fire on January 25 delayed the sale and now discussions have ended completely.

Shares of Petrobras were down nearly 12% today amid crude oil prices that broke through the $100 level. Petrobras stock closed today's trading session at $40.35.

Petroleo Brasileiro S.A., or Petrobras, together with its subsidiaries, engages in the exploration, exploitation, and production of oil from reservoir wells, shale, and other rocks.

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