Petrobras Trims Investment Plan Amidst Oil Price Drop

Petrobras, Brazils state-owned oil giant, is considering a slight reduction in its five-year investment plan due to weaker global crude oil prices. The company, under President Lulas administration, is focusing on upgrading existing platforms and facilities rather than new ventures. Petrobras is also renegotiating with suppliers and re-evaluating projects to control costs. Despite the plan to expand production, the company is adopting a more cautious approach due to market conditions.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.