Brazil oil regulator OKs Petrobras plan to upgrade Marlim field


Brazil's oil regulator approves Petrobras' (NYSE:PBR) plan to upgrade development plan of the Marlim offshore oil field, one of the country's largest.

PBR drew up the plan after the agency told it two years ago to come up with ways to limit declining output from several of the large but aging fields in the Campos Basin; output has stagnated as PBR has been unable to bring on new areas fast enough to make up for declines from older fields.

While the plan will require PBR to make substantial investments in Marlim, the agency does not say how much the company must spend.

From other sites
Comments (2)
  • osooro
    , contributor
    Comments (88) | Send Message
     
    How can PBR afford this with Dilma Roussnef still in power?
    26 Jul 2014, 04:47 PM Reply Like
  • Austin Newsom
    , contributor
    Comments (132) | Send Message
     
    Is there any limit to Petrobras' future capital spending plans?
    27 Jul 2014, 03:48 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs