Local sources report that the Petrobras administration plans to submit the new Business Plan for 2015 to 2019 for Board approval on June 23. If approved the plan will be made public immediately. It has been been reported that the new Plan will reveal substantial decrease from the previous Plan and will concentrate efforts in production and exploration. The decrease will affect the Petrobras suppliers which are already suffering cash flow problems.
Petrobras also has announced and Extraordinary Shareholders Meeting on July 1, 2015. Please see the attached Petrobras announcement.
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