Petrobras will sell $ 40,000 million in assets this year
Brazil's state oil company wants to triple or even quadruple its current value in the market as announced by the company's president
The Brazilian company Petrobras plans to launch between 30,000 and 40,000 million dollars on sale in assets.
This figure represents twice the amount expected in its divestment portfolio, according to the president of the Brazilian state oil company, Roberto Castello Branco.
“In the first four months of this year we will achieve divestments for $ 10 billion and we intend to do much more. I think that over the twelve months we can have a value three or four times higher than that $ 10,000 million,” said the executive.
This value also represents almost double that announced by Petrobras in 2016, when the company announced the launch of said plan for 21,000 million dollars in assets.
In its latest strategic plan, announced last year, the company estimated that its divestments would total 26,900 million dollars in the five-year period between 2018 and 2022.
The plan seeks to reduce the record debt of an oil company that in 2018 finally obtained its first net profit after four consecutive years of losses and that led a gigantic corruption scandal.
Castello Branco assured that the company has to focus its investments within the sector in which it has more experience and potential, which is the deep or very deep waters exploration and exploitation of oil and natural gas.
K. Tovar
Source: Gestión
