Brazil’s Petrobras Reduces Investment Forecast by 25%

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The persistent decline of international oil prices, the appreciation of the US dollar and the deteriorating Brazilian economy led Petrobras, the country’s giant, to announce it was reducing by 25 percent, or US$32 billion, its investments until 2019. The total amount now the company expects to invest during this five-year period is of US$98.4 billion.

“These adjustments are designed to preserve the fundamental objectives of deleveraging and the generation of value for shareholders established by the 2015-2019 Business and Management Plan (BMP),” said the . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?