Petrobras Cuts Spending, Boosts Exploration
Update: 2025-11-28
Description
Petrobras, Brazils energy giant, adjusts its spending plans for the next five years, reducing capital expenditure by 2% due to falling oil prices. Dividends also decrease, with ordinary dividends projected between $45-50 billion, down from $55 billion. Despite overall spending cuts, exploration and production budget increases by $1 billion, aligning with President Lulas call to boost oil output.
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