Petrobras Slashes Business Plan 25 Percent to $74 Billion

Updated on
  • Looks to exit biofuels, fertilizer production, petrochemicals
  • Petrobras sees $19.5 billion in divestments in 2017-2018

Petroleo Brasileiro SA reduced investments by 25 percent and is accelerating asset disposals as it downsizes to withstand low international oil prices amid Brazil’s deepest two-year recession on record.

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