Petrobras to Invest $100 Billion in Offshore Oil Production ...Middle East

Brazil’s state oil firm Petrobras plans more than $100 billion in investments this decade to boost offshore oil production as it looks to be one of the last oil producers standing when oil demand starts to drop, CEO Jean Paul Prates has told the Financial Times.    “We need to keep the core [business] very safe . . . We are not doing [a] crazy transition,” the company’s top executive told FT, commenting on the recently announced strategic plan through 2028.   Petrobras needs new…

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