03:08 PM EDT, 05/22/2024 (MT Newswires) -- Petrobras (PBR) said Wednesday that Brazil's national competition regulator agreed to renegotiate its gas market agreement from 2019.

The company had agreed to sell its stakes in several gas companies, but said faced obstacles in the divestment of Transportadora Brasileira Gasoduto Bolivia-Brasil S.A - TBG.

The company said it had reconsidered its divestment plan after new laws were enacted in the country, and that it will no longer be selling TBG.

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