Friday, November 24, 2017

Petrobras Hikes 2017 Fundraising Forecast

Posted by November 14, 2017

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 

Related News