Petrobras has cut its capex through to 2019 by 37%, to $130bn, projecting to reduce net leverage from the current 50% to 32% in 2020. Petrobras has 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.
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%
SBM Offshore NV (SBMO:WBO) | 0 0 0.5% | Mkt Cap: 2,738m
- Published:
30 Jun 2015 -
Author:
Marzio Foa -
Pages:
2
Petrobras has cut its capex through to 2019 by 37%, to $130bn, projecting to reduce net leverage from the current 50% to 32% in 2020. Petrobras has 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.