The company plans to sell assets in exploration and production (30%), downstream (30%) and gas and energy (40%) segments.
The latest divestment plan will increase the targets from $5-11bn allocated in the 2014-2018 Business & Management Plan, released in February 2014. However, Petrobras said in filing to respond to the Broadcast report that the divestments will be based on market conditions and negotiation.
Petrobras recently announced plans to sell its assets worth approximately $13.7bn within two years to reduce debt. The move comes after credit agencies downgraded the company’s rating due to a corruption scandal involving Petrobras executives.
Petrobras controls and holds 36.1% stake in Braskem, while Odebrecht SA holds 38.3% stake.
Shares of Petrobras jumped nearly 4% on Monday on the reports of the plan to divest the stake in the petrochemicals firm, Reuters said citing a report in Broadcast, the real-time news service of newspaper Estado de S. Paulo.
Details and the name of the potential buyers were undisclosed.
