Petrobras board backs bigger 2010-14 budget

摘要

Rio de Janeiro—Brazil’s state-led Petrobras, already in the second year of a huge investment program, plans to increase spending even further as giant new offshore fields move closer to production. The company’s board of directors agreed March 19 to spend $200 to $220 billion on capital expansion in the 2010-2014 period, 26% more than the company’s budget for the five years ending in 2013.