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Oil and Gas

Brazil's Ultrapar cuts 2020 investment plans by 30% - filing

BRASILIA, April 1 (Reuters) - Brazil’s Ultrapar Participaçoes SA said on Wednesday it is reducing its investment plans for this year by around 30% and has canceled financial projects announced as recently as a month ago.

In a securities filing, it also said it has bolstered its liquidity by 1.5 billion reais ($285 million) over the next 12 months, and that given the speed with which the economic environment is changing, it is unable to give new 2020 forecasts.

Reporting by Jamie McGeever; Editing by Sandra Maler

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