Petrobras CFO says government bailout would only be "last resort"

viernes 15 de enero de 2016 13:40 GYT

RIO DE JANEIRO Jan 15 (Reuters) - Brazil's Petroleo Brasileiro SA will only seek new capital from the Brazilian government as a last resort and that no such bailout is under consideration for the heavily indebted state-led oil company, Chief Financial Officer Ivan Monteiro told reporters on Friday.

Petrobras, as the company is known, understands the challenge of selling $15 billion of assets to reduce debt and limit new investment cuts, but is confident the company will reach its goal by year-end, Monteiro said.

He added that he does not believe a possible initial public sale of stock by Saudi Arabia's Aramco will reduce demand for Petrobras assets. (Reporting by Jeb Blount)