Petrobras realigns: which assets will it sell?

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14 June 2019

Petrobras realigns: which assets will it sell?

Report summary

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?

Table of contents

  • Executive Summary
  • Disposal proceeds drive deleveraging success
  • Divestment strategy is changing– can Petrobras keep its momentum?
  • Midstream – TAG closing bodes well, but more is needed
  • Downstream – eight refineries up for sale
  • Upstream – more smaller deals
  • Injunctions – a reoccurring theme
  • Putting things into perspective

Tables and charts

This report includes 12 images and tables including:

  • Impact of divestments on debt / EBITDA ratio
  • Gearing ratio – reported vs. target
  • Disposals closed between 2016-2019
  • Divestment pipeline summary
  • Value of closed disposals (2016-2019)
  • Value of assets currently on the market
  • Midstream divestment pipeline
  • Refineries up for sale
  • Downstream divestment pipeline
  • Upstream divestment pipeline
  • Timeline - Petrobras' divestment offerings

What's included

This report contains:

  • Document

    Petrobras realigns: which assets will it sell?

    PDF 914.34 KB

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