Petrobras ‘ goal is to reduce debt

Among the objectives set out in the business plan of Petrobras the goal is to halve the company’s debt. The oil company’s debt is currently equivalent to 4.07 times its cash generation. Until 2018, that number should fall to 2.5 times, according to note released by the State.

This reduction became necessary front to the size of the interest costs, they have undertaken a significant growth in recent years. In 2009, the company shelled out $1.7 billion with interest payments; in 2015, this value passed to $6.3 billion.

The company will also focus on managing expenses and plan to reduce operating expenses by $27 billion. Only in the third quarter of this year, Petrobras registered a 21% reduction in operating expenses manageable as compared to the same period in 2015.

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