Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil.
RIO DE JANEIRO: Petrobras, carrying the largest debt load among global oil majors, is rolling a year’s worth of promises into a week of significant announcements aimed at trimming the gap before an unpredictable presidential campaign starts to gear up.
The dominoes have fallen one-by-one: On Monday, Petroleo Brasileiro SA sold a US$2.9bil (RM11.82bil) stake in one of its largest legacy fields to Norway’s Statoil ASA. Three days earlier, the Brazilian state-run company gained US$1.5bil in an initial public offering of its fuel subsidiary.
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