May 17, 2021 |
Brazil's state-owned oil company Petrobras will maintain its focus on asset sales and deleveraging to meet its debt reduction targets, CFO Rodrigo Araujo told analysts and investors on Friday.
The company lowered net debt by 20.1% year-on-year to $58.4 billion at the end of the first quarter this year and reduced leverage to 2.03 times EBITDA, the lowest level since 2012, it said in its latest earnings report.
Petrobras also extended the average debt maturity to 11.8 years as the average financ
Brazil's state-owned oil company ends the first quarter with the lowest debt-to-EBITDA ratio since 2012