Petroleo Brasileiro SA’s $58 billion asset sale proposal would be unprecedented for the oil industry — and for good reason. It may be impossible to pull off.
The plan, released last week by the Brazilian state-run oil company known as Petrobras, calls for $15.1 billion in divestments by the end of 2016 and an additional $42.6 billion by 2018, part of which will come from restructuring. The last company to come close to Petrobras’s target was BP Plc, when it sold more than $30 billion in a downsizing strategy after the Deepwater Horizon oil spill.
Brazil Energy Insight 
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