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Petrobras readies asset sales

May 30/2012

(upstreamonline) -- Petrobras is eyeing a bumper round of asset sales by the end of the year as it looks to finance it vast pre-salt plans off Brazil, a report claims.

The Brazilian state-owned oil behemoth is to concentrate much of its efforts on offloading Gulf of Mexico assets where it may consider brings in a "strategic partner" .

Most of the planned USD13.6 billion divestments are to happen before 2013 as the company looks to fill its coffers to finance its five-year, USD225 billion spending plan, the news wire cited Barbassa as saying at its Latin America Investment Summit on Monday.

Barbassa said there has already been strong interest in some of the assets, although he declined to name prospective buyers.

The finance boss also said that Petrobras is looking to double its output to about 6.4 million barrels of oil equivalent by 2020 but that is would be "several years"  before the country retains the net exporter tag.
Author:Anna Larionova
Tags:oil, neftehimiya.
Category:General News
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