THE $15 billion divestment plan that Brazil’s Petrobras is counting on to alleviate its medium-term financial woes is running into the hard economics of low oil prices.
The Brazilian oil major has put six prime deep-water areas on the block, including several areas already under development, along with several downstream and midstream assets.
Upstream understands that the reponse to the offering has been lukewarm, with several of the invited companies declining to pursue their interest, and others submitting offers that sources involved in the process described as “low”.
The
