People walk in front of the Petrobras headquarters in Rio de Janeiro February 2, 2015.

REUTERS/SERGIO MORAES

Brazilian state-run oil company Petroleo Brasileiro SA has saved $3.8 billion this year by improving the way it manages its debt, Chief Executive Aldemir Bendine said on Wednesday.

The company will emerge slimmer but more robust from the current process of restructuring, Bendine told lawmakers during a hearing by a congressional committee in Brasilia.

(Reporting by Jeb Blount; Writing by Stephen Eisenhammer; Editing by Leslie Adler)