Tag: Petrobras investment

• Tuesday, October 6th 2015 - 13:02 UTC

  Debt-overwhelmed Petrobras cuts further capital spending plans for this year and 2016

  

  Petrobras struggling with the biggest debt load among global oil firms, on Monday cut $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump. Petrobras plans to cut 2015 investment by 11% to $25 billion from the previous $28 billion, according to a statement.