Brazil’s Petrobras Is Still Calling for US$ 112 Billion in Investments

Brazilian Petrobras's robot Brazilian state-controlled oil multinational Petrobras's business plan for the 2009/2013 period, which is currently being elaborated, should not undergo modification for adaptation to the current scenario of lower foreign investment caused by the international financial crisis.

According to the Export and Production director at Petrobras, Guilherme Estrella, "Petrobras is not thinking about and does not consider the possibility of a smaller investment, neither the exclusion or cancellation of projects in the 2009/2013 Business Plan".

Estrella estimated that the projects for the pre-salt layer should add to the perspective of new investment by the company.

The Exploration and Production director at the state-owned company also said that the investment forecast for the current 2008/2012 Business Plan is of around US$ 112.4 billion.

He also added that the 2009/2013 Plan should be disclosed on the 19th of this month, after having been analyzed and approved by the Board of Governors at the company.

The Exploration and Production director at the company, Guilherme Estrella, participated yesterday (3) in the National Forum of Higher Studies at the offices of the Brazilian Development Bank (BNDES), in Rio de Janeiro.

Electronic Industry Growth

The electric and electronic goods industry should end 2008 with growth of 11% in revenues, compared with 2007. In total, the sector should post revenues of 123.7 billion reais (US$ 51 billion), according to projections disclosed by the Association of the Brazilian Electric and Electronic Industry (Abinee).

Exports of electric and electronic products should increase 11% this year, going from US$ 9.3 billion in 2007 to US$ 10.3 billion in 2008. Imports should total US$ 33.7 billion, 40% more than in the previous year.

The industry also generated more job positions. The number of employees rose from 156,100 as of December 2007 to 165,500 so far this year, with 9,400 direct job positions.

ABr

Tags:

You May Also Like

US Health Journal Praises Brazil for Playing Hard Against AIDS Drugs Makers

Brazil has set an example to other developing countries by employing "creative measures" to ...

Brazil Needs One Belo Monte a Year, Say Energy Experts

Brazil’s economic growth over the next decade or so will require an additional 4,000 ...

Despite Low GDP Brazil’s Economy Jumps from 15 to 11th Place in the World

Brazil became the leading Latinamerican economy in 2005, ahead of Mexico, and ranked eleventh ...

IMF Chief Hopefuls Go to Brazil in a Seduction Mission

Christine Lagarde and Agustin Carstens, the two leading candidates for the position of IMF ...

To Brazil, Argentina Is Not In Default, But Simply in an Impasse

Brazil’s Finance Minister Guido Mantega says he would not classify as default Argentina’s situation ...

US Analyst Forecasts Doom for Brazil’s Economy

Economic growth in Brazil will fall toward two percent in 2005 says Jeph Gundzik, ...

Brazilian Franchises Show Their Stuff in LA’s Franchise Expo

Brazilian companies are coming to Los Angeles for the West Coast Franchise Expo-2006, which ...

64% of Brazil’s Software is Pirated. But US Has 10 Times More Losses.

Brazil’s software piracy is growing again after a steady decline in recent years. The ...

CIV, a Brazilian Glass Powerhouse

The pots, jars, glasses and bowls made by Brazil’s Companhia Industrial de Vidros (CIV) may ...

Brazil’s Army Chief Calls His Men Warriors of Peace in Haiti

At a ceremony honoring general Urano Bacellar, the commander of the UN Stabilization Mission ...