Petrobras cut its capex through to 2019 by 37%, to $130bn, projecting to reduce net leverage from a current 50% to 32% in 2020. Petrobras reduced its 2020 domestic production target to 2.8 million barrels of oil equivalent a day, down from a previous goal of 4.2 million barrels. Investment would focus on oil E&P ($111bn, o/w $89bn in production development), notably pre-salt. Maintenance of operations in Downstream, G&P and others. The Petrobras plan is based on assumptions of Brent a
30 Jun 2015
The Petrobras plan to 2019: capex cut by 37%
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The Petrobras plan to 2019: capex cut by 37%
Petrobras cut its capex through to 2019 by 37%, to $130bn, projecting to reduce net leverage from a current 50% to 32% in 2020. Petrobras reduced its 2020 domestic production target to 2.8 million barrels of oil equivalent a day, down from a previous goal of 4.2 million barrels. Investment would focus on oil E&P ($111bn, o/w $89bn in production development), notably pre-salt. Maintenance of operations in Downstream, G&P and others. The Petrobras plan is based on assumptions of Brent a