Petrobras: O&G Auction Not in CapEx Plan

Brazil's state-run oil company Petroleo Brasileiro announced that it had not allocated money to bid in upcoming oil and gas auctions in its five-year capital spending plan, according to a presentation hosted by exploration and production director Solange Guedes.

 

Petrobras nnounced a plan to invest $74.5 billion in the 2018-22 period with the lion's share, about $60.3 billion, to go toward exploration and production.

 

(Reporting by Roberto Samora; writing by Ana Mano, editing by G Crosse)