March 6 (Bloomberg) -- Petroleo Brasileiro SA, Brazil's state-controlled oil company, didn't want to spend the full $174.4 billion investment planned for 2009 through 2013, Agencia Estado reported.

Brazilian President Luiz Inacio Lula da Silva in a speech in Espirito Santo state today said he called Jose Sergio Gabrielli, chief executive of Petrobras, as the company is known, and told him to ``spend every cent'' to stimulate the economy, Estado reported.

Last Updated: March 6, 2009 13:31 EST