Ritageld schreef op 20 september 2016 13:47:
Petrobras cuts investment by 25% in new 5-year plan Fast FT
SEPTEMBER 20, 2016 1:39 PM
by: Samantha Pearson
Petrobras, the state oil company at the centre of Brazil’s vast corruption scandal, slashed planned investment by 25 per cent under its latest five-year business plan as it struggles to emerge from the deepest crisis in its history.
The Rio de Janeiro-based producer said on Tuesday it would invest $74.1bn between 2017 and 2021, down from planned investment of $98.4bn in its previous five-year plan, revised in January this year, reports Samantha Pearson in São Paulo.
The plan is the first under new chief executive Pedro Parente, who has vowed to cut the company’s nearly $125bn of debt, the largest of any group in the global oil industry.
Petrobras said on Tuesday it plans to reduce its leverage to 2.5 times its earnings before interest, tax, depreciation and amortisation (ebitda) in 2018 from 5.3 times in 2015.
Petrobras said it plans to be producing 2.77m barrels a day of crude oil in Brazil by 2021 and have total domestic and international oil and natural gas production of 3.41m barrels a day.
The company is expected to hold a press conference later on Tuesday.