Financial

Petrobras raises asset sale goal to $21 bln for 2017-2018 period

Petróleo Brasileiro SA raised on Wednesday a goal for asset divestitures and partnerships for this and next year to $21 billion from $19.5 billion previously, a sign Brazil’s state-controlled oil company plans to expand ventures with peers in segments from refining to oil exploration. In a presentation detailing fourth-quarter results, Petrobras said cash and equivalents are expected at $19 billion by year-end, compared with about $22 billion last year.

Petrobras estimates $8.8 billion worth of debt amortization scheduled for this year, down from an $11.5 billion estimate made at the end of 2015.

(Reporting by Guillermo Parra-Bernal and Gustavo Bonato Editing by W Simon)

Categories: Financial, Petrobras

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