Petrobras to dispose of $13.7B in assets

Petrobras is planning to sell off some $13.7 billion in assets this year and next in an effort to cut debt and preserve cash, according to Reuters.

In a revised five-year capital spending plan, filed on March 2, the company’s divestitures in exploration and production may now account for 30% of asset sales targeted in 2015 and 2016. Gas and energy assets may account for 40% of that amount, with the remaining coming from assets related to distribution.

The revised capital spending plan is part of the company’s strategy to focus on its priority investments, especially those related to Brazil, while also reducing its debt through asset divestitures.  

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...