At R$4.00 to the US dollar, Petrobras’ massive debt has increased by R$70 billion compared to last quarter. This amount is equivalent to the company’s divestment goal of U$15.1 billion. So much for reducing debt by selling assets.
About 80% of Petrobras debt is US dollar denominated. At the end of last quarter total debt was equivalent to R$324 billion and as of this morning the amount stands at approximately R$394 billion.
Total gross debt could reach R$500 billion which is considered the world’s record in corporate debt.
Petrobras will soon unveil a revision to their previously published business plan.
Brazil Energy Insight 
Leave a comment