• BIST 2.554,08
  • Altın 991.359
  • Dolar 16.8836
  • Euro 17.8211
  • İstanbul 19 °C
  • Ankara 12 °C

Petrobras falls short of two-year target for asset divestment

Petrobras falls short of two-year target for asset divestment
Brazil’s faltering state oil giant Petrobras admitted on Wednesday that it will come up $1.5bn shy of its targeted divestment tally for the two-year period that is about to end, according to Reuters.

Petrobras, which has vast offshore oil and gas interests, had set a 2015-2016 sell-off goal of $15.1bn.

Staggering from a huge debt burden and reeling from the effects of a massive bribery scandal that has shaken Brazil to the core, Petrobras has been striving to reduce its red ink.

To do so it has used a range of means, including staff layoffs, budget cuts, cancelled contracts, investment retrenchment and selling of assets.

Petrobras said that it would have met the two-year mark if not for a court injunction that blocked its attempt to sell shares of two offshore oilfields – 100% of Tartaruga Verde and a 50% stake in Bauna – to Australian firm Karoon Gas.

As a result of falling short this time, Petrobras has revised its asset sales target for 2017-2018 to $21bn.

source: splash247

This news is a total 950 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |