Petrobras CEO Says Expects More Divestitures in Oil Industry

Global upstream investment is likely to fall next year and industry divestitures could reach $35 billion, the head of Brazil's state-run oil company Petroleo Brasileiro SA said on Tuesday.

 

Petrobras' Chief Executive Officer Pedro Parente told reporters at the sidelines of an event in New York that he expects a divestment trend in the industry.


(Reporting by Guillermo Parra-Bernal; Writing by Alonso Soto; Editing by Phil Berlowitz)