Petrobras to Cut 2025 Investments to $17B Amid Rising Costs and Limits [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
Petrobras PBR, Brazil's state-run oil and gas company, is poised to significantly reduce its planned investments for the upcoming year, despite explicit requests from the government of Brazil to increase its capital expenditures (CAPEX). According to Reuters, sources familiar with the matter have disclosed that Petrobras, which initially forecasted investments of approximately $21 billion for 2025, might now scale back to around $17 billion. This adjustment raises critical questions about the future of Brazil's oil sector and its impact on the national economy. PBR's Investment Strategy Shift Petrobras' current strategic plan, covering the period from 2024 to 2028, outlines a robust investment of $102 billion, representing a 31% increase compared with previous plans. However, this ambitious agenda faces a crucial challenge as president Luiz Inacio Lula da Silva urges the company to elevate its investments. The government's focus is not only on boosting the oil company's financi
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