Petroleo Brasileiro SA Chief Financial Officer Almir Barbassa said Brazil’s government will buy enough shares of the state-run company in an offering to at least keep its 32 percent stake and may increase it, ensuring demand for the sale.
Petroleo Brasileiro SA , Brazil’s state-controlled oil company, doesn’t expect a rising debt-to- equity ratio to lower the company’s corporate rating, Chief Financial Officer Almir Barbassa said.
Petroleo Brasileiro SA, the state- controlled oil producer, said a weaker local currency is hurting profit as the value of the company’s dollar-denominated debt increases.
Petroleo Brasileiro SA is seeking partners to create a holding company to spend more than $20 billion on 28 oil drill ships, Chief Financial Officer Almir Barbassa told Valor Economico.
"Fortunately, this year, we brought forward our funding."
- Almir Barbassa on Dec 11, 2014