March 2016, Vol. 243, No. 3
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Beleaguered Petrobras May Sell Natural Gas Pipeline Unit
Brazilian state-owned oil company Petrobras, the most indebted oil company in the world, could soon lose its status as the top operator in some of the country’s most prolific offshore oil assets. Petrobras is reeling from a wide-reaching corruption scandal and it is drowning in a mountain of debt that exceeds $100 billion. It no longer has the funds to front large-scale drilling in the way that it once did. Petrobras executives are now trying to manage shrinking the company’s footprint. In order to raise cash it has plans to sell off assets far and wide. But there are questions surrounding the company’s ability to raise the funds that it needs to – since just about every company is unloadi
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