March 27, 2018 / 2:19 PM / 4 months ago

Petrobras to reach or exceed net debt goal this year-CEO

RIO DE JANEIRO, March 27 (Reuters) - Brazil’s state-controlled oil company Petroleo Brasileiro should at a minimum reach a net debt goal of 2.5 times earnings before interest, tax, depreciation and amortization this year, the company’s Chief Executive Officer Pedro Parente said on Tuesday.

Parente said the company could even achieve net debt of 2 times EBITDA if oil prices remain around $70 per barrel this year, adding that Petrobras is working to regain fuel market share and expects good results, especially in diesel. (Reporting by Marta Nogueira Editing by Chizu Nomiyama)

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