Rio de Janeiro – The Finance and Investor Relations Director at Petrobras, Almir Barbassa, said on Friday (18), that the company needs to collect at least US$ 17 billion in new money for investment.
According to Barbassa, the state-owned company needs US$ 262 billion by 2014. Petrobras already has part of the funds, partly in the till and partly from capital increases already performed on the market.
According to the director, however, the organisation’s funds will be US$ 46 billion short, including US$ 29 billion for amortisation. "We need at least US$ 17 billion in new money," he said, in an event with Norwegian businessmen at the Brazilian Development Bank (BNDES).
"Norway, with all its financial potential, its sovereign fund, may have a share and the o BNDES, as a long time partner, may have another," he finished off. In an interview during the event, the BNDES vice president, Armando Mariante, avoided anticipating any information regarding possible financing.
*Translated by Mark Ament
