- Petrobras (NYSE:PBR) will cut its 2016-20 capital spending plan by 5% to $93B, and could reduce its investments even further if a series of planned debt-reducing asset sales are completed ,the O Globo newspaper reported on Sunday.
- PBR, which has amassed $130B in debt, already has cut its investment plans to $98.4B from $130.3B.
- Earlier: Petrobras cuts oil reserves to 14-year lows (Jan. 29)
- PBR -3.7% premarket.
Report: Petrobras to cut investment plan by 5%
Recommended For You
About PBR Stock
Related Stocks
Symbol | Last Price | % Chg |
---|---|---|
PBR | - | - |
Petróleo Brasileiro S.A. - Petrobras |