Petrobras announces $112.4 billion investment plan
Thursday, 16 August 2007
RIO DE JANEIRO, Aug 15 (Xinhua): Brazil's state-owned oil and gas company Petrobras announced yesterday that investments will total 112.4 billion US dollars in the 2008- 2012 period, up 28 per cent from 87.4 billion dollars foreseen in its 2007-2011 plan.
Of that amount, the company said that 97.4 billion dollars will be invested in projects in Brazil, and the remaining 15 billion dollars will go to projects abroad, especially in Latin America, the Gulf of Mexico and West Africa.
According to its revised plan, Petrobras expects a 32 per cent rise in its investments in oil and gas exploitation and production in Brazil, as well as 30 per cent growth in investments in the petrochemical sector, in the period of 2008- 2012.
Of that amount, the company said that 97.4 billion dollars will be invested in projects in Brazil, and the remaining 15 billion dollars will go to projects abroad, especially in Latin America, the Gulf of Mexico and West Africa.
According to its revised plan, Petrobras expects a 32 per cent rise in its investments in oil and gas exploitation and production in Brazil, as well as 30 per cent growth in investments in the petrochemical sector, in the period of 2008- 2012.