RIO DE JANEIRO: Petroleo Brasileiro SA (Petrobas), Brazil’s state-run oil producer, would consider delaying plans to sell as much as US$25bil of shares should global equity markets worsen, chief executive officer Jose Sergio Gabrielli said.
Petrobras sank 13% this month to the lowest level since March 2009 while expectations for US stock price swings jumped by the most on record as Europe’s debt crisis spread and raised concern global growth would slow. The company, which plans the biggest share sale in the Western Hemisphere in at least a decade, said May 18 that it aimed to issue the stock in late July or early August.
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