Petrobras covers 2015 financial needs with loans, sale

Brazilian state-run oil company Petroleo Brasileiro SA said on Friday it has approved a series of credit and sale operations to cover its financial needs for this year.

Petrobras, as the company is known, approved a letter of credit for export from Banco do Brasil for 4.5 billion reais ($1.48 billion) through its subsidiary BR Distribuidora.

The company approved a standby credit limit of 2 billion reais with Caixa Economica Federal for up to 5 years, and also agreed to a pre-approved financing limit of 3 billion reais with Banco Bradesco SA (BBDO).

Petrobras also signed an agreement with bank Standard Chartered PLC to sell $3 billion worth of oil platforms with a repurchase option. ($1 = 3.0394 Brazilian reais)

(Reporting by Alonso Soto and Anthony Boadle; Editing by Alan Crosby)