New blocks will not affect Petrobras' capital

After Petrobras star in the costly assignment when it closes the only two blocks sold, the president of the state, Roberto Castello White, claimed that the contract of the surpluses of Buzios and Itaipu will not commitment to the company’s capital. It will take R$ 63.14 billion to pay 90% of buzios’ bonus and an additional R$ 1.8 billion for 100% itapu.

“Even with this investment, Petrobras will not end the year with debt rise, there will not be a dollar of debt increase, and we will continue to implement this strategy which includes, as an important part, the active portfolio management and discipline in capital allocation”, said Castello Branco.

In addition, for the president, companies have retreated because there was a very high capital commitment need at auction and regulatory issues created uncertainties, such as the deadline for the approval of the field development plan.


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