Petrobras plans to cut net debt to 2.5 times operating profits by 2018, down from 3.24 times in the first quarter. In a presentation to investors, Parente added that the company was working to soon present a model to seek partnerships for its downstream operations. (Reporting by Luciano Costa; Writing by Bruno Federowski; Editing by Chizu Nomiyama)
Petrobras will not slow down asset sales upon meeting debt targets -CEO
State-controlled oil company Petróleo Brasileiro SA will not slow down asset sales or debt-cutting efforts if it meets debt targets earlier than expected, Chief Executive Pedro Parente said on Monday.