4 Dec by Vitaliy Dadalyan

Share the love y’all!

UPDATE 1-Brazil's Petrobras says its value could increase by almost half by 2021

UPDATE 1-Brazil's Petrobras says its value could increase by almost half by 2021NEW YORK/RIO DE JANEIRO, Dec 4 (Reuters) – Brazilian state-run oil firm Petrobras expects to boost its equity value by roughly 45% by 2021, in large part through cost cuts and the divestment of non-core assets, it said in a presentation released on Wednesday. Capital expenditure from 2020 to 2024 will be concentrated in Brazil’s offshore “pre-salt” formation, with a special emphasis on its Buzios field, said Petroleo Brasileiro SA , as the firm is formally known. The presentation, which was accompanied by comments from Petrobras executives at the firm’s New York Investors’ Day, was the first time the firm has offered details on its five-year business plan, released last week.

LEAVE A REPLY

Please enter your comment!
Please enter your name here