Petrobras Cuts Production as Supply Chain Faces Coronavirus Impacts

The president of the state-owned company, Roberto Castello Branco, said this is "the worst crisis in the oil industry in 100 years".

RIO DE JANEIRO, BRAZIL - The announcement of production cuts, investments and deferral of dividends by Petrobras is just a reflection of what had already been happening in the oil and gas chain in recent weeks.

With the new coronavirus crisis, suppliers are virtually at a standstill and the greatest risk lies among the smaller-sized companies . . .

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