According to the company’s chief financial officer, Ivan Monteiro, Petrobras has a portfolio of assets of U$ 42 billion that can be sold.
The amount includes US $ 1.5 billion the unfulfilled part of the divestiture plan for the period 2015/2016, whose goal was to sell US $ 15.1 billion, but closed at US $ 13.6 billion in sales.
The value of the asset portfolio also exceeds the goal of disposing of US $ 21 billion of assets in the 2017/2018 plan.
Among the projects that the company wants to put on sale are Braspetro and the participation of Petrobras in Braskem. However, Petrobras was unable to sell some of the assets because of inquiries made by the Federal Audit Court (TCU) last year. The management of the company hopes to clarify the questions after the court’s recess.
“They [TCU] already have broad access [to information]. What we expect is to meet the other requirements that are asking us. Some have full agreement, are actually improvements in the process, and others, we want to broaden the discussion a little, because they can affect the competitiveness of the process, “said Monteiro.
By 2017, Petrobras estimates investments in the order of US $ 19 billion, part of them referring to the US $ 5 billion not executed last year.
Director Ivan Monteiro said that the oil company currently has $ 22 billion in cash, enough for the next two and a half years. According to him, the current value does not include the money coming from the sale of assets in 2016 nor the operations that will be done in 2017. “If Petrobras does nothing in the next two and a half years, it has enough cash to cover the debt service, “he said.
In relation to fundraising, President Pedro Parente said that the anticipation in funding this week was prompted by uncertainty over the inauguration of the new president of the United States, Donald Trump. “There is a lot of speculation of what can happen. One of the much-mentioned prospects is the possibility of a higher interest rate at a higher rate. ” The company works with the projection of raising US $ 4 billion in the market, in order to roll over future debt.
Ivan Monteiro also expects a review of the international risk assessment agencies of Petrobras’ investment grade, which was downgraded after disclosure of the corruption scheme in the Lava Jato.
“The improvement in Brazil’s macroeconomic perception seems evident. The improvement in Petrobras’ perception, too, seems obvious to me. That now has to be transferred to the ratings, “he said.