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Petrobras CEO says no capital raise before 2030

  • Petrobras (PBR -1.2%) CEO Maria das Gracas Foster says the company does not expect to issue new shares before 2030, despite last week's deal to obtain additional production rights from the government.
  • Analysts have acknowledged that the deal essentially granted PBR oil on the cheap, but many, such as Morgan Stanley's Bruno Montanari, also noted that the state-run company has its hands full with an ambitious expansion plan for the coming years.
  • The CEO reiterates that the deal would increase PBR's 2014-18 investment budget by only 3.5% from the previously stated $220.6B.
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Comments (3)
  • Patent News
    , contributor
    Comments (1394) | Send Message
    this is dumb she cant promise that, she wont be ceo for 16 yrs, duh!
    1 Jul 2014, 01:00 PM Reply Like
  • Patent News
    , contributor
    Comments (1394) | Send Message
    the Brazilians have a bridge to sell you, eh soccer stadium!
    1 Jul 2014, 01:01 PM Reply Like
  • osooro
    , contributor
    Comments (83) | Send Message
    This present sociolistic administration is a road block to PBR. The current president is a nightmare to businesses in Brazil.
    1 Jul 2014, 01:04 PM Reply Like
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