Petrobras Five-Year Plan Ups Capex

摘要

After its previous five-year business plan curtailed spending on exploration, a new strategy laid out by Petrobras on Wednesday sees the firm’s E&P budget increasing along with its overall spending. The state-controlled oil and gas giant plans to spend $84.1 billion in the five years from 2019-23, up nearly $10 billion from its 2018-22 spending plan unveiled last December (IOD Dec.22’17).