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
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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
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: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
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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
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: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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