Petrobras

Brazil / Petrobras $15.4 billion costs cutting – Impacts on jobs unknown

Brazil’s state-led oil company Petrobras (PETR4.SA) plans to cut costs by 32 billion reais ($15.4 billion) between 2013 and 2016 to stanch the impact of falling output and rising debt on its ambitious expansion plan. The plan will focus on 39 areas that accounted for 43 billion reais of spending in 2011 and seek to … Continue reading →