PETROBRAS REAF­FIRMS US$15B AS­SET SALE GOAL

The Sun (Malaysia) - - SUNBIZ -

NEW YORK: State-con­trolled Petroleo Brasileiro SA will stick to a US$15.1 bil­lion (RM65.4 bil­lion) as­set sale goal for the two years end­ing in 2016, CEO Pe­dro Par­ente said on Tues­day, sig­nal­ing the Brazil­ian oil producer is mak­ing head­way on a dras­tic down­siz­ing plan. Par­ente said as­set sales have be­come a trend among global in­dus­try play­ers, which have about US$35 bil­lion in tar­geted di­vesti­tures for the year. Petrobras has turned to as­set sales and part­ner­ships as a way to down­size and cut a debt bur­den. – Reuters

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