Finance / Brazil
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Petrobras To Invest US$15bn Overseas
April 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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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.