Petrobras To Invest US$15bn Overseas

The president of Petroleo Brasileiro (Petrobras), Jose Sergio Gabrielli, announced on April 7 that the Brazilian state-controlled oil company will invest US$15bn in overseas projects. Petrobras is planning to more than double its oil output to 4.15mn barrels a day by 2015, from 2mn barrels a day at present. The aim is to capitalise on growing demand from Asia and South America.

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