← Back to Blog

A Giant Burdened With A Dream — Petrobras Struggling in Brazil

  • Petrobras’ oil production down by c. 3% y-o-y for Q1-Q3, production targets revised down by up to 1 million b/d by 2020
  • Q1-Q3 E&P spending up by 24% y-o-y and cash flow in jeopardy
  • 17 new field development projects in the pipeline but may be subject to typical delays
  • 10 new Brazilian floater newbuilds by December 2016, but local content and related production capacity constraints may induce further delays
  • Moody’s downgrade: Petrobras US$237 billion CAPEX programme (2013-2017) with potential funding gap of c. US$143 billion at risk

Please log in to view
the rest of this report.


Not yet a subscriber?
Contact us today!

If you do not yet have an account with us and would like to register or find out more, please contact us using our client services form, send an email to admin@petrologica.com or call us on +44(0)1206 823 295.

by Alexander Wilk // 13 December, 2013

←   Back to Blog