Petrobras Announces $111-Billion Investment Plan ...Middle East

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Petrobras Announces $111-Billion Investment Plan
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Brazil’s Petrobras plans to spend $111 billion in the five years between 2025 and 2029, with $77 billion of this total earmarked for oil and gas exploration and production activities, Reuters reported, citing a securities filing. The new spending figure is $10 billion higher than an earlier version of the investment plan, where exploration and production spending was set at $73 billion. That earlier plan, in turn, was an upward revision on an even earlier version of the 2025-2029 budget that stood at $102 billion. Spending for 2025 specifically,…

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