Name: Petrobras realigns: which assets will it sell?
Brand: Wood Mackenzie
SKU: 111841
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Author: Wood Mackenzie

Insight 14 June 2019

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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Petrobras wants to divest US$27 billion in assets. A wide range of prospects have been put up for sale – companies of all sizes could gain access to Brazil. Success will result in a more resilient portfolio, allowing the company to refocus resources on its best opportunities. But Petrobras has already targeted much of the low hanging fruit. As the company reorients its divestment strategy towards midstream and downstream sales, new challenges will emerge. Execution risks could derail the latest disposal plans. Can Petrobras execute successfully?</div>
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<li class="list__item-toggle font-semibold">
        Executive Summary
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<li class="list__item-toggle font-semibold">
        Disposal proceeds drive deleveraging success
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<li class="list__item-toggle font-semibold">
        Divestment strategy is changing– can Petrobras keep its momentum?
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<li class="list__item-toggle font-semibold">
        Midstream – TAG closing bodes well, but more is needed
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<li class="list__item-toggle font-semibold">
        Downstream – eight refineries up for sale
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<li class="list__item-toggle font-semibold">
        Upstream – more smaller deals
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<li class="list__item-toggle font-semibold">
        Injunctions – a reoccurring theme
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        Putting things into perspective
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<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">Impact of divestments on debt / EBITDA ratio</li><li class="list__item push-quarter--bottom">Gearing ratio – reported vs. target</li><li class="list__item push-quarter--bottom">Disposals closed between 2016-2019</li>
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            <li class="list__item push-quarter--bottom">Divestment pipeline summary</li><li class="list__item push-quarter--bottom">Value of closed disposals (2016-2019)</li><li class="list__item push-quarter--bottom">Value of assets currently on the market</li><li class="list__item push-quarter--bottom">Midstream divestment pipeline</li><li class="list__item push-quarter--bottom">Refineries up for sale</li><li class="list__item push-quarter--bottom"></li><li class="list__item push-quarter--bottom">Downstream divestment pipeline</li><li class="list__item push-quarter--bottom">Upstream divestment pipeline</li><li class="list__item push-quarter--bottom">Timeline - Petrobras' divestment offerings</li>
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<p class="font-regular" >Petrobras realigns: which assets will it sell?</p>
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