Petrobras intends to close this year with a reduction of its indebtedness to US $69 billion, a significant decrease compared to last year, in which it closed with a debt of us $85 billion, thus totaling a difference of us $16 billion between the years of 2018 and 2017. The announcement was made by the State Board of directors during Investor Day in Sao Paulo.
Even if the target of debt reduction is reached, it will be greater than the years 2010 and 2011, with a debt of US $37 billion and US $55 billion, respectively.
During the event, the President of the company, Ivan Monteiro, argued that the reduction of the state debt is due to the appreciation of the oil Brent, which is currently above us $70 the barrel, surpassing the estimate of Petrobras, which predicted the value of the oil around US $ 58 BDP.
The state still predicted a cash flow of us $15 billion at the end of 2018, above the US $13.5 billion registered in 2017. Since the year 2015, Petrobras has been registering positive cash balance.
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