Petrobras to keep debt 'under control' in five-year plan

Petrobras to keep debt 'under control' in five-year plan

Corporate & Sovereign Strategy Economy & Policy Equity Brazil Capital Markets Gas Oil

Brazilian state-run oil company Petrobras expects to maintain debt at "around $55 billion" from 2023 to 2027 as it brings investments back to pre-pandemic levels, it said in a new five-year plan on Wednesday. Petrobras reached its target of $60 billion in total debt last year with 54% due after 2027, it said in the strategic plan. Now it puts the "gross debt reference range" between $50 billion and $65 billion and plans to keep it near $55 billion through liability management, it added. "Debt le

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