Petrobras to Rein In Overseas Spending to Focus on Domestic Subsalt

摘要

Petrobras has said it will freeze or cut back on international spending when it finalizes its next five-year business plan, as it focuses on developing Brazil’s huge offshore subsalt oil reserves. However, overseas activity is not coming to a halt, and the company has recently made several strategic acquisitions that will boost its position in the global natural gas market.