Feb. 13 (Bloomberg) -- Petroleo Brasileiro SA, Brazil’s state-controlled oil company, is “advanced” with some asset sales, Chief Executive Officer Maria das Graca Foster told reporters today in Rio de Janeiro.

The company said in July 2011 that it will issue as much as

$91 billion in debt and sell as much as $13.6 billion of assets as part of its 2011-2015 spending plan.

To contact the reporter on this story: Peter Millard in Rio de Janeiro at pmillard1@bloomberg.net

To contact the editor responsible for this story: Robin Saponar at rsaponar@bloomberg.net