December 4, 2019 / 6:52 PM / 6 days ago

Petrobras' CFO says firm will add assets to divestment portfolio

FILE PHOTO: People walk in front of the Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil, October 16, 2019. REUTERS/Sergio Moraes

NEW YORK (Reuters) - Brazilian state-run oil firm Petrobras’ plan to divest between $20 billion and $30 billion over the next five years is not ambitious enough, and the company will need to divest from additional assets, Chief Financial Officer Andrea Marques de Almeida said on Wednesday.

In a presentation released shortly before the executive’s comments, the firm said assets in Bolivia and some legacy deepwater oilfields could be among those the company will put on the block.

Reporting by Rodrigo Campos; Writing by Gram Slattery; Editing by Chris Reese

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