Petrobras Chips Away At Debt With Asset Sales

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Brazil’s Petrobras intends to raise US$21 billion with the sale of assets by the end of this year, according to its 2018-2022 business plan, as the company works to lower debt while carrying out activities, mainly in the presalt.

Petrobras raised $4.5 billion, less than half of 2018 plan, through the sale of assets in 2017. The company’s strategic partnership with Norway’s Statoil on the sale of part of the Campos Basin’s Roncador Field, generating $2.9 billion, was seen as the most profitable divestment made by the Brazilian major in 2017.

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