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Latino Daily News

Wednesday June 23, 2010

Brazil’s Petrobras Announces Multi-Billion Dollar Investment Plan

The state-owned oil and gas producer, Petrobras of Brazil announced it’s aggressive investment plan of $224 Billion by 2014. This new figure is a 20% increase from the $174.4B set for the 2009-13 year.

95% of the funds will be invested in Brazil, $212.3B, the remaining will be invested in projects abroad. The majority of the investment will be allocated towards the exploration and production sector, close to 53% for a total of $118.8B.

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