Petróleo Brasileiro S.A. or Petrobras PBR can bring its divestment plan regarding pipeline operator Transportadora Associada de Gás ("TAG") back to life in November, per Bloomberg. The sale was designed to curb its debt burden.Last September, the Brazilian state-run integrated energy company announced its decision to sell 90% of its stake in its wholly-owned subsidiary TAG. The decision was part of Petrobras’ move to come out of its huge debt burden, which scarred its credit metrics. The sale of TAG was in line with Petrobras’ strategy of improving financial health through its divestment program.However, this June, the Brazilian Federal court suspended the company’s initiatives to strike a $7-billion deal with Engie SA for the TAG assets. The court passed a ruling against the sale of TAG to France-based Engie SA, due to discrepancies in Petrobras’ way of advancing with the sale. It was believed that the sale was not publicized well enough to stimulate ample competition.Currently, Engie SA and Caisse de Depot et Placement du Quebec, a Canadian pension fund, are planning to offer around $9 billion for TAG. Petrobras is finalizing terms with these two companies for the transaction, which will likely be used later in a second round of bids for the TAG properties. Although the TAG divestment plan is still facing uncertainties regarding federal rulings, Petrobras plans to reach a conclusive agreement by 2018-end. These efforts can enable the company to save time, provided it receives a green signal from the Congress.The company is making serious efforts to revive its reputation and improve leverage situation. It also emerged from the multibillion-dollar money laundering and bribery case, settling all the claims against it. The company is entering into various strategic partnerships with foreign oil giants to drive exploration momentum. In this regard, Petrobras has inked deals with major energy companies like TOTAL S.A. TOT, Royal Dutch Shell plc RDS.A and Equinor EQNR.So far, successful cost-cut initiatives and aggressive divestment programs have helped Petrobras in its endeavor to trim the debt load. At the end of June 2018, the company had a net debt of $73,662 million, decreasing from $84,871 million at the end of 2017 and $96,381 million as of Dec 31, 2016.Wall Street’s Next Amazon Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.Click for details >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Petroleo Brasileiro S.A.- Petrobras (PBR): Free Stock Analysis Report TOTAL S.A. (TOT): Free Stock Analysis Report Royal Dutch Shell PLC (RDS.A): Free Stock Analysis Report Statoil ASA (EQNR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research