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Petrobras Needs Cash Injection of Up to $26 Billion, Maua Says | Tony Seruga
Mar
02

Petrobras Needs Cash Injection of Up to $26 Billion, Maua Says

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  • `Everyone knows’ Petrobras needs capital at some point
  • Maua’s Figueiredo says could be done by development bank BNDES

Brazil’s state-run oil producer Petrobras needs a capital injection of as much as 100 billion reais ($25.5 billion) to balance its finances, even if it takes three years to complete, said Luiz Fernando Figueiredo a former central bank director and Chief Executive Officer of Maua Capital.

“Everyone knows that Petrobras needs to be capitalized at some moment, and every day that passes this gets more expensive,” Figueiredo said Tuesday at an event in Sao Paulo organized by Bloomberg and the capital markets association known as Anbima. “It needs a capitalization soon, even if it is a plan for the next one, two or three years.”…

Petrobras Needs Cash Injection of Up to $26 Billion, Maua Says

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