Brazil’s state-owned Petrobras pledged significant cost cuts with a continued focus on core activities in its latest five-year business plan, while simultaneously upping the ante on a planned $15.1 billion divestment program by an additional $19.5 billion. Backing up projections from its prior plan, Petrobras said it will reduce total investments by 25% to $74.1 billion through 2021, starting with a spending target of $19.2 billion for 2017 (OD Jun.30’15).
展开▼
