MercoPress. South Atlantic News Agency
Petrobras not selling any stake of its giant Libra offshore oil prospect
Petrobras is offering investors the chance to buy oil fields, refineries and other properties in an effort to cut debt by selling $15.1bn of assets by the end of 2016. 
CEO Aldemir Bendine has told Brazil's congress that the company will not be able to make payments on its debt and maintain a $19bn investment plan 
Petrobras' nearly $130 billion of debt is the largest of any oil company and one of the largest of any industrial company in the world. Petrobras, is not considering selling a 10% stake in its giant Libra offshore oil prospect at this time, Brazil's state-run oil company said on Friday. Petrobras was responding to a report on Tuesday that industry sources had been told by the company that the Libra stake was on offer.
Petrobras is offering investors the chance to buy oil fields, refineries and other properties in an effort to cut debt by selling $15.1 billion of assets by the end of 2016.
A sale of the stake could fetch up to $1.5 billion, according to analysts at Macquarie, and may attract more interest than some of the other areas the company has tried but failed to sell in recent years.
Libra has an estimated 8 billion to 12 billion barrels of recoverable oil and gas resources, making it one of the world's largest undeveloped oil areas, or enough to provide all oil needs in the United States for as much as 20 months at current consumption levels.
So far, Petrobras has sold only about 3% of its asset sale goal and Chief Executive Aldemir Bendine has told Brazil's congress that the company will not be able to make payments on its debt and maintain a $19 billion investment plan next year without meeting asset-sale goals.
Petrobras' nearly $130 billion of debt is the largest of any oil company and one of the largest of any industrial company in the world.
Petrobras owns 40% of Libra and is the area's operator. France's Total SA owns 20%, Royal Dutch Shell 20%, and China's CNOOC and China National Petroleum 10% each.
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Read all comments5 Eyes barely disguise his desire to take over the pre-salt. They are inventing lies to see if any glue.
Dec 12th, 2015 - 02:09 pm 0Cowards!
https://www.youtube.com/watch?v=jYchCMe5btI&index=1&list=FLmXPTu1f8AdGlizWNiASx2A
Is it true that the only reason PetroBras is in so much debt, is due to the massive corruption and fraud of the past years?
Dec 13th, 2015 - 03:15 am 0We are preparing a capitalization plan for Petrobras through the National Treasury that has been followed surpluses in foreign currency in 2015. Instead of we put these surpluses into our international reserves, we will capitalize Petrobras with that money so that the company can meet the objectives outlined by the Federal Government.
Dec 13th, 2015 - 12:38 pm 0We believe that even then will still be missing around 2 billion euros to meet investment goals and payment of debts in 2016.
Osterreich has already provided funding of this amount for replacement in 25 years. Most likely we will accept help from brother country.
However one needs to study other proposals we have on the table. Countries such as China, Germany, India, Italy and Angola also want to participate.
So the problem is not money, the problem is not to scratch sensibilities. Diplomacy is all!
https://www.youtube.com/watch?v=bFRBQjBuQmo&list=FLmXPTu1f8AdGlizWNiASx2A&index=34
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