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Petrobras cuts 5-year budget by 25% and will focus on core oil and gas business

Friday, September 23rd 2016 - 11:16 UTC
Full article 5 comments

Brazil’s Petrobras announced it will be spending US$74.1 billion over the next five years, 25% reduction on the US$98.4 billion for the previous five years capital expenditure. This is also the company’s lowest five-year budget since 2006. Read full article

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  • :o))

    The oil & gas businesses are already in shambles the world over; obviously due to the lesser demand / consumption and the rise of the clean & renewable alternative fuels as a better [pollution-free] option.

    In Brazil - besides the aforesaid explanations - the other reasons are the crisis & the scandals.

    In spite of the biofuels being a practical solution, the success in Brazil [and elsewhere] is limited. It also may not be a “Clean Energy”!

    If the core business is to offer the cheapest possible clean & renewable energy - mainly for the transport - to improve the economy and reduce inflation & pollution; Brazil is too far away from the objective!

    Sep 23rd, 2016 - 02:51 pm - Link - Report abuse 0
  • Kanye

    Look out!

    The easiest, fastest way for a company to cut costs is to lower the head count.

    More Socialist backlash coming .

    Sep 23rd, 2016 - 03:18 pm - Link - Report abuse 0
  • :o))

    The jobs, appointments, departments, etc. are created for the sake of returning of the political favors and are not need-based to improve productivity / profits of the industries or companies which are being managed by the state/federal governments.

    As a matter of fact, profit-making is not at all the main concern!

    So who goes or stays and how many go or stay will depend on upon who is in “how much” of a power.

    Sep 23rd, 2016 - 03:53 pm - Link - Report abuse 0
  • Briton

    Boy, all those Billions,

    Would it not be logical, just to buy Brazil.
    just a thought.

    Sep 23rd, 2016 - 07:38 pm - Link - Report abuse 0
  • :o))

    REF: 4: Buy Brazil? Venezuela is a much BETTER option!

    Sep 28th, 2016 - 01:40 pm - Link - Report abuse 0

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