Petrobras to Cut Investments again for 2015

Petrobras will cut 2015 investments to U$20 billion, down from originally U$40 billion at the start of the year and revised down to U$29 billion at mid year, according to reputable newspaper reporting this Friday.

Soaring dollar and the fall in the price of the barrel of oil are forcing Petrobras directors to review, once again, planned spending, the report said.

We await confirmation  when the company reports 3Q results later this month.