Petróleo Brasileiro SA raised on Wednesday a goal for asset divestitures and partnerships for this and next year to $21 billion from $19.5 billion previously, a sign Brazil's state-controlled oil company plans to expand ventures with peers in segments from refining to oil exploration.

In a presentation detailing fourth-quarter results, Petrobras said cash and equivalents are expected at $19 billion by year-end, compared with about $22 billion last year.

Petrobras estimates $8.8 billion worth of debt amortization scheduled for this year, down from an $11.5 billion estimate made at the end of 2015.

(Reporting by Guillermo Parra-Bernal and Gustavo Bonato)