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Awash in Cash, Brazil's Petrobras Dreams of Becoming an OPEC Member PDF Print E-mail
2007 - February 2007
Written by Peter Howard Wertheim   
Tuesday, 06 February 2007 16:00

State-controlled Brazilian Petrobras an expert in deep-water oil explorationPetrobras, Brazil's state-owned oil company, has plans to spend US$ 12.1 billion in projects abroad between 2007-2011, or 14% of its total US$ 87.1 billion investment budget for the period. In Brazil's earlier five-year plan, covering 2006-2010, it had planned US$ 7.1 billion in international spending, or 12.5% of its $ 56.4 billion total investment forecast.

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Comments (3)Add Comment
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Interesting
written by Bryan, February 13, 2007
I know engineers who work for Petrobras. They travel all over the world working. This company is a major player.
...
written by Andy Murphy, February 16, 2007
The problem is not with the Engineers.They are no doubt very competent. Unfortunately, the state controlled companies in Brazil have become a haven for the politcos who occupy the top management positions.Petrobras is no exception.
...
written by Andy Murphy, February 16, 2007
Nor Banco do Brasil for that matter.

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