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4-Traders Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Petroleo Brasileiro SA Petrobras    PETR4   BRPETRACNPR6

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Petrobras, BTG Pactual to sell their Nigerian oil venture

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11/09/2017 | 10:06pm CET

State-controlled oil company Petroleo Brasileiro SA (Petrobras) is leading an effort to sell Petrobras Oil and Gas BV (Petrobras Africa), after being joined in the sale by shareholders Grupo BTG Pactual SA and Helios Investments, it said on Thursday.

Heavily indebted Petrobras announced plans this week to sell its 50 percent stake, and began sending information on the company to potential investors.

It has been joined in the sale by BTG Pactual E&P BV, a subsidiary of investment bank Grupo BTG Pactual SA, and Helios Investments, who will offer their respective 40 percent and 10 percent stakes.

Grupo BTG Pactual tried to sell its stake separately earlier this year. It held talks with a group of Nigerian investors but failed to reach an agreement, a source with knowledge of the matter told Reuters. BTG Pactual did not immediately comment.

Petrobras, the world's most indebted oil company and focus of a massive corruption scandal, is seeking to offload $21 billion in assets through 2018 and has moved aggressively to cut debt.

Petrobras Africa participates in two deepwater oil exploration blocks off the coast of Nigeria that contain the Akpo and Agbami producing fields and are operated by Total SA (>> Total) and Chevron Corp (>> Chevron Corporation) respectively.

(Reporting by Tatiana Bautzer in Sao Paulo and Alex Alper in Rio; Editing by Susan Thomas)

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Financials ( BRL)
Sales 2017 279 B
EBIT 2017 49 134 M
Net income 2017 17 881 M
Debt 2017 297 B
Yield 2017 4,23%
P/E ratio 2017 12,66
P/E ratio 2018 9,78
EV / Sales 2017 1,83x
EV / Sales 2018 1,66x
Capitalization 213 B
Chart PETROLEO BRASILEIRO SA PET
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Petroleo Brasileiro SA Pet Technical Analysis Chart | PETR4 | BRPETRACNPR6 | 4-Traders
Technical analysis trends PETROLEO BRASILEIRO SA PET
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 18,2  BRL
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Pedro Pullen Parente President, CEO & Executive Director
Luiz Nelson Guedes de Carvalho Chairman
Ivan de Souza Monteiro Chief Financial & Investor Relations Officer
Roberto Moro Chief Engineering & Technology Officer
Segen Farid Estefen Director
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