Due to the Coronavirus Pandemic, Petrobras Requested $8 Billion from Banks. The State-Owned Company Reported That It Is Evaluating Other Measures to Strengthen Its Cash Flow
Amid the coronavirus pandemic, Petrobras reported that it has asked banks for the disbursement of $8 billion (more than 40 billion reais). The amount is part of its committed credit lines, a type of pre-approved credit that the oil company already had with banking institutions. Despite the Crisis, Petrobras Receives Proposals for the Charter of FPSO Mero 3.
Read Also
- Petrobras Postpones Submission of Proposal from Gaspetro to April 30
- Oil Workers Threaten to Strike, Risk of Coronavirus Contamination on Platforms “Is Very High,” Says FUP
- High School Selection Process to Fill Job Openings at the Brazilian Company for Services and Infrastructure
The disbursement is part of a strategy to increase the company’s liquidity during this crisis, due to the pandemic of the new coronavirus (Covid-19) and the shock in oil prices.
-
More than R$ 526 million generated in oil in 2025 was not enough to place Espírito Santo in the lead of innovation — and the data shows exactly where the bottleneck is.
-
With salaries of up to R$ 30,000 and 2,500 open positions, a shipyard in Aracruz (ES) is at the center of a billion-dollar project by Petrobras that involves platforms capable of producing 225,000 barrels per day.
-
Impacts of tensions in the Middle East: how the rise in oil prices is transforming infrastructure contracts in Brazil, raising prices, delaying schedules, and exposing billion-dollar fragility in the sector.
-
Impacts of tensions in the Middle East: how the rise in oil prices is transforming infrastructure contracts in Brazil, raising prices, delaying schedules, and exposing billion-dollar fragility in the sector.
In a statement released today (20), Petrobras reported that it is evaluating other measures to strengthen its cash flow, including additional cost reductions and optimization of its working capital.
“Petrobras reaffirms its strategy supported by five pillars: maximizing return on capital, reducing cost of capital, relentless pursuit of low costs, meritocracy, and respect for people, the environment, and safety. The current crisis reinforces the importance of these pillars, which must continue to be pursued with even more focus,” the statement says.
Refineries
In another statement, Petrobras reported that it postponed the receipt of binding offers from companies interested in purchasing refineries of the state-owned company, due to the pandemic of the new coronavirus. The processes involve eight refineries, including Abreu e Lima (Rnest) in Pernambuco; and Alberto Pasqualini (Refap) in Rio Grande do Sul.
Other units involved in this postponement of receiving binding offers are Landulpho Alves (RLAM) in Bahia; Presidente Getúlio Vargas (Repar) and Shale Industrialization Unit (Six) in Paraná; Gabriel Passos Refinery (Regap) in Minas Gerais; Isaac Sabbá Refinery (Reman) in Amazonas; and Northeast Lubricants and Oil Derivatives (Lubnor) in Ceará.
In a statement released today, Petrobras informed that it “reinforces its commitment to the project of selling refining assets and their respective logistical assets, as stipulated in its Strategic Plan 2020-2024.”

Seja o primeiro a reagir!