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Petrobras expects $17 billion investment, $8 billion divestitures this year
August 11, 2017 / 5:17 PM / 5 days ago

Petrobras expects $17 billion investment, $8 billion divestitures this year

The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017.Paulo Whitaker/File Photo

RIO DE JANEIRO (Reuters) - Brazil's state-controlled Petróleo Brasileiro SA has targeted spending $17 billion in investments and selling $8 billion worth of assets this year, a presentation by the oil company published on Friday said.

The presentation explaining second-quarter results also said Petrobras will refinance as much as $13 billion worth of debt and generate about $27 billion in cash. In a conference call, executives said Petrobras is not currently considering debt sales in international markets.

Reporting by Marta Nogueiera and Alexandra Alper; editing by Grant McCool

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