A BrazilWorks Briefing Paper
Paula Barbosa provides a timely analysis of Brazil’s government controlled energy company, Petrobras, and its debt and performance since the global financial crisis hit Brazil in 2008. Her purpose is to offer a detailed understanding of the problems and challenges facing Petrobras from the perspective of its accumulating debt as well as its core business operations in oil and gas exploration and production and downstream refining and distributing. The major problematic for Barbosa is government provided financing, mostly through the Banco Nacional de Desenvolvimento, known as the BNDES.
This following summary analysis provides an English summary interpretation of Barbosa’s cogent analysis in the aftermath of the recent, first production-sharing auction for offshore, pre-salt blocks in the Libra field in which Petrobras played the central role.
Read the entire briefing here: The Petrobras Debt Challenge