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.  

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