Petroleo Brasileiro SA’s investment plans will be at risk if Standard & Poor’s downgrades the state-controlled producer to junk as it did with Brazil’s sovereign rating, said analysts at HSBC Holdings Plc and BTG Pactual.
Petrobras plans to invest $108.6 billion on exploration and production through 2019, or 83 percent of its business plan, to expand production in the so-called pre-salt region that holds Brazil’s biggest oil discoveries. The company said yesterday it has already started re-negotiation drilling rig contracts.
Brazil Energy Insight 
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