Brazil's Petroleo Brasileiro SA, the world's most indebted oil company, nearly doubled its fundraising forecast for 2017 but trimmed its target for divestments.
In a presentation following disappointing third quarter results, Petrobras said
it expects to raise $22 billion in funds this year compared to a prior forecast of $13 billion.
It expects to divest $7 billion this year, excluding a planned initial public offering for fuel distribution unit BR Distribuidora, below the $8 billion it forecast previously.
Reporting by Marta Nogueira