ExxonMobil kicks off its US$15 billion disposals programme

Deleveraging has been a priority for Petrobras since the 2014 price downturn. Selling world-class upstream growth projects were a big part of the initial phase. But the emphasis has now shifted to mid and downstream disposals. Ancillary business lines (e.g. downstream, midstream, biofuels, fertilizers) for sale are sizable and attractive. Still, Petrobras may need to go beyond current tail-end upstream assets to garner buyer interest in continuing to high-grade its E&P business. With over 120 assets sold or on sale since the programme’s inception, it can be hard to keep track of Petrobras’ every move. To address that, we have published a tracker with detailed metrics of every closed or open transaction.