Petrobras says plans $236.7 bln in capital spending in 2013-2017
RIO DE JANEIRO, March 15
RIO DE JANEIRO, March 15 (Reuters) - Brazil's state-controlled oil company Petroleo Brasileiro SA on Friday kept its five-year capital spending plan virtually unchanged at $236.7 billion as it tries to speed up and streamline development of giant offshore oil resources.
The company, known as Petrobras, will spend $147.5 billion of the plan, part of the world's largest corporate spending program, on oil and natural gas exploration, according to a note filed with Brazil's securities regulator.
Petrobras' previous 2012-2016 plan called for investments of $236.5 billion.
- Tesla says in talks with BMW over car batteries, parts
- Iran nuclear talks extended seven months after deadline missed
- Exclusive: China ready to cut rates again on fears of deflation - sources
- Actor Dwight Henry eyed in New Orleans killing after arrest for theft
- Some fund managers see oil falling to $60 without OPEC cut
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video