Brazilian newspaper Valor Economico had postulated that the company could sell off assets in its deepwater holdings.
“The divestment plan, as approved, does not include sub-salt assets,” Petrobras divulged in a securities filing. Earlier statements by the company said that exploration and production divestments could account for up to 30 percent of funds to be raised.
The company announced a divestiture programme in March that includes sales of assets to raise $13.7 billion, as it is one of the most indebted companies in the world, with $170 billion owed. A major corruption scandal has caused Petrobras stocks to tank. The company’s operations were already hampered by Brazil’s rising inflation, which sat at 8.13 percent in March.
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