Petrobras to divest more assets in 2016 as debt soars

Petrobras, the scandal-plagued Brazilian oil giant, plans to sell off more assets next year to offset rising debt that has soared to five times the company's value, its president Aldemir Bendine said Tuesday. The state oil company's debt has shot up more than 40 percent this year in tandem with a sharp decline in the value of the Brazilian real against the dollar. Bendine said Petrobras has managed to reduce its debt in dollars by five percent this year, but to cut it further "there is no other