Petrobras needs five years to fully recoverStaff writer ▼ | August 10, 2015
CEO of Brazil's Petroleo Brasileiro Aldemir Bendine estimates it will take five years for the state-run oil producer to win back the credibility after a massive corruption scandal sent some of its top executives to jail.
Petroleo Brasileiro Energy giant predicts a long road ahead
"I wouldn't be here if I didn't believe in this project," he said in an interview published on the paper's website on Saturday. "It is a five-year project."
Petrobras last week reported a 89 percent plunge in its second-quarter net income as it took a one-time charge for underperforming projects before a planned sale of up to $15.1 billion in assets by the end of 2016.
Bendine said he was negotiating partnerships to help Petrobras conclude some of its investments, including its $15 billion Comperj refinery outside Rio de Janeiro.
"We already have four investors interested, including a Chinese investor. The value is 3-4 billion reais ($0.9-1.1 billion) but if they want to invest more I won't be upset." ■