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.
Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, said its plan to more than double output will boost cash flow and eliminate the need to tap debt markets after about 10 years.
Petroleo Brasileiro SA , the world’s fifth-largest oil company by market value, posted first-quarter profit that beat analyst estimates on higher prices and output.
Petroleo Brasileiro SA , Brazil’s state-controlled oil producer, said its plan to sell as much as $25 billion of new shares next month will replenish capital after debt rose to the upper limits of its target last quarter.
"Fortunately, this year, we brought forward our funding."
- Almir Barbassa on Dec 11, 2014