Petrobras Underscores Investment Durability During Tough Financial Times
Concerning news published by the press, Petrobras clarifies that seeking the most varied sources of funding, whether internal or external, is inherent to the Company's management and part of its operating history.
Throughout its history, Petrobras has faced the most diverse adverse conditions, a fact which did not prevent it from developing its long-term growth strategies. In spite of the international financial crisis, the Company was able to raise $7.5 billion in funds in 2008 to finance its investments.
In the 1990s and early 2000s, when oil prices were much lower than they are now, and when the Company was not rated as investment grade, a fact that limited traditional external funding offers, the company was able to develop new forms of fund raising to finance its business plan.
Petrobras' decisions have always been and will always be based on the best conditions presented. As has been widely announced, the Company is revising its business Plan. Thus far, there has been no deliberation by the Company's Executive Board or by its Board of Directors regarding the issue. As soon as it is approved, Petrobras will announce its new Business Plan to the market.
Operates 34 Offshore Rigs
Manages 10 Offshore Rigs
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