A Petrobras Oil platform is seen at Guabanara bay in Rio de Janeiro
A Petrobras oil platform at Guabanara Bay in Rio de Janeiro REUTERS

Shares of Petroleo Brasileiro (NYSE: PBR) are down 1.55 percent this morning after the state-controlled Brazilian behemoth said it terminated talks with the Italian energy company Eni s.p.a. (NYSE E) about purchasing a stake in Galp Energia.

Last month, Petrobras reportedly entered talks to acquire Eni’s one-third stake in Portugal-based Galp

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