Petrobras could divest from billions more in assets than forecast

Shortly after releasing its 2020-2024 business plan with potential divestments of $20 billion to $30 billion during its New York investors day last week, executives from Petrobras announced that the Brazilian oil major could actually put billions more in assets up for sale over the coming years, including additional E&P assets. 

The new business plan already includes potential divestments from parts of the Marlim field, one of Brazil’s largest, as well as its majority stake in the smaller Papa-Terra field. Chief Executive Roberto Castello Branco estimated a piece of Marlim could bring in somewhere between $2 billion and $4 billion.

Source: Reuters