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Commodities Briefing - Categorized | Investment, Oil more

Petrobras to pump USD28bln into pre-salt fields

Posted on 26 January 2009

From FT: Petrobras, the Brazilian national oil company, is pushing ahead with plans to invest in Brazil’s newly discovered pre-salt oil deposits in spite of market conditions that have raised doubts over its ability to secure finance.

The company’s strategic plan for 2009-2013 - revealed on Friday after months of delays caused by the global credit crisis and volatile oil prices - calls for investment of $174.4bn, a substantial increase on the $112.4bn stated in its 2008-2012 plan….. Full Article: Source


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