Bloomberg News

Petrobras Says $224.7 Billion Investment Plan Is Maintained

March 15, 2012

Petroleo Brasileiro SA (PETR4) said its $224.7 billion investment plan for the 2011-2015 period is maintained and denied speculation that it’s discussing cuts in the program, according to an e-mailed statement.

Veja magazine reported yesterday in its Radar on-line column that Petrobras would announce a cut in the investment plan tomorrow. The magazined didn’t say where it obtained the information.

To contact the reporter on this story: Helder Marinho in Sao Paulo at hmarinho@bloomberg.net

To contact the editor responsible for this story: Adriana Brasileiro at abrasileiro@bloomberg.net


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