Brazil’s Petroleo Brasileiro SA will only seek new capital from the Brazilian government as a last resort and that no such bailout is under consideration for the heavily indebted state-led oil company, Chief Financial Officer Ivan Monteiro told reporters on Friday.
Petrobras, as the company is known, understands the challenge of selling $15 billion of assets to reduce debt and limit new investment cuts, but is confident the company will reach its goal by year-end, Monteiro said.
He added that he does not believe a possible initial public sale of stock by Saudi Arabia’s Aramco will reduce demand for Petrobras assets. (Reporting by Jeb Blount)
Brazil Energy Insight 
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