Lupatech Sees ‘Growing Demand’ From Petrobras

Lupatech SA, Brazil’s biggest oil equipment and service provider, sees “growing demand” from Petroleo Brasileiro SA for its services as the state-controlled producer boosts spending to double output in a decade, said Chief Financial Officer Thiago Alonso de Oliveira.

“We are facing a moment when the things we supply are in a period of growing demand,” Oliveira said today in a telephone interview from Sao Paulo. “It’s a period when several discoveries are in the beginning development phase.”