Petrobras May Invest About $400 Billion Through 2020
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Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, may invest about $400 billion through 2020 as it seeks to develop the Americas’ biggest crude discoveries in more than three decades, a minister said.
Petrobras investments in the Brazilian oil industry will create opportunities for companies such as General Electric Co., Trade and Development Minister Miguel Jorge said today in Rio de Janeiro. GE said today it will expand production of equipment for the oil and transportation industries in Brazil, Latin America’s largest economy.