Monday, May 22, 2017

Petrobras Expects Asset Sales to Bring $8 bln in Cash This Year

Posted by May 12, 2017

Petroleo Brasileiro SA expects to generate $8 billion of liquidity from asset sales this year, the state-controlled Brazilian oil firm told investors in a presentation on Friday.

In March the company, known as Petrobras, said it plans to strike deals in 2017 and 2018 to sell assets and stakes in projects worth $21 billion in order to reduce debt.
 
 
(Reporting by Roberto Samora)

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