Petrobras unveils plan to boost asset sales, will invest $84.1 billionStaff Writer |
LatAm Petrobras moderately cut its oil production forecast
Petrobras plans to raise some $26.9 billion via asset sales and partnerships by 2023 while boosting investments on the front edge of an anticipated production boom in Brazil.
The firm moderately cut its oil production forecast, but still forecast production to increase by 10 percent next year, and then 5 percent every year through 2023.
Petrobras is trying to stay the course on efforts to reduce one of the heftiest debt loads among oil companies worldwide - $88 billion in gross debt - through divestments and an investment focus on Brazil's coveted offshore pre-salt area. ■
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