Brazil's Petrobras could add several billion dollars of assets to its alrea...
NEW YORK/RIO DE JANEIRO - Brazil’s Petrobras could add several billion dollars of assets to its already ambitious five-year divestment plan, executives said on Wednesday, underlining the state-run oil company’s rush to reduce its hefty debt load.
In a separate Wednesday presentation, released during Petrobras’ New York Investors’ Day, the company said it may add its Bolivian assets to the divestment program, as well as its stake in petrochemical firm Braskem SA, legacy deepwater oilfields and its remaining stake in fuel distribution firm, Petrobras Distribuidora SA, commonly known as BR Distribuidora.
Petrobras has already failed previously, though, to sell its Braskem stake independently from controlling shareholder Odebrecht, but was not successful. Odebrecht and its creditor banks plan to keep the Braskem stake for at least more two years, Reuters reported earlier this week.
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