BRIEF-Brazil's Petrobras expects year end 2016 cash of $21 bln

viernes 13 de mayo de 2016 12:55 GYT

May 13 (Reuters) - Petrobras officials, including Chief Financial Officer Ivan Monteiro spoke with investors and analysts via conference call on Friday about the state-controlled oil company's 1.25 billion first-quarter loss announced late Thursday. Here are some highlights from the call:

* Petrobras expects $21 billion cash position at end of 2016 versus $26 billion at beginning of year

* End 2016 cash position includes $14 billion of asset sales, $1 billion of debt rollover, $1 billion of new debt issue - executive

* Petrobras expects to make $19 bln in capital investments in 2016 -statement

* Petrobras expects to have free cash of $17 bln at the end of 2017 -official

* Petrobras expects to pay no dividends to investors in 2016 -statement

* Petrobras expects to set aside $6 bln in 2016 for judicial settlements -official

* Petrobras expects natural decline of 12 pct to 15 pct in offshore Campos basin in coming years -exploration executive

* Petrobras expects to need 30 to 35 offshore drillships, platforms in coming years for strategic plan -senior executive   Continuación...