Brazil’s Petrobras Cuts 2025 Capex By $4 Billion ...Middle East

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Brazil’s Petrobras Cuts 2025 Capex By $4 Billion
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Brazil’s state-owned oil and gas multinational Petróleo Brasileiro S.A. (NYSE:PBR), aka Petrobras, has lowered capital expenditure (capex) for 2025 to $17 billion from an earlier estimate of $21 billion. According to the company, the lower capex is more realistic and in-line with its financial wherewithal. In its latest strategic plan, Petrobras plans to invest $102 billion in the 2024-2028 period, good for a 31% increase over the previous plan amid pressure from Brazil's President Luiz Inacio Lula da Silva for the firm to ramp up…

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