Petrobras (PBR) will sink up to $4.5B into R&D over the next five years with hopes of...

|About: Petrobras - Petroleo Brasi... (PBR)|By:, SA News Editor

Petrobras (PBR) will sink up to $4.5B into R&D over the next five years with hopes of breakthroughs in ultra-deepwater oil production - part of a wave of oil/gas tech investment in Brazil that includes companies such as IBM, Schlumberger (SLB) and GE. The company wants to double Brazil's domestic output and grow faster than the country.