Brazil’s Petrobras’ cash burn may reach $1 billion a month in time of extreme stress

Brazilian oil giant Petrobras (PETR4.SA) said on Friday that its cash burn could reach $1 billion a month in periods of extreme stress and volatility, noting the current level of uncertainty in being able to accurately predict spending.

The state-owned firm, formerly known as Petroleo Brasileiro S.A., cited current costs, expenses and volatile oil prices but did not provide further details about its current cash burn rate or the projected stress scenarios.

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