Wednesday, Sep 23, 2020
International Finance

Tag : Brazil oil and gas

Oil & Gas

Petrobras cuts spending by more than 30% for 2019

Pritam Bordoloi
Brazilian oil giant Petrobras has announced that it will cut spending by more than 30 percent. The company now plans to spend $10 billion-$11 billion in 2019 as it makes adjustments to the way it accounts for field unitisation, adapts to a weaker exchange rate against the dollar and delays drilling activities. The oil refiner...