Major Discoveries and $113 Billion Investment Moving Petrobras into No. 3 Global Fuel Sales Spot
Major Discoveries and $113 Billion Investment Moving Petrobras into No. 3 Global Fuel Sales Spot
JOHANNESBURG--May 20, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--At a time when there is a negative conjunction between the price of oil, production levels, refining undercapacity and inflationary threats caused by the rising price of gasoline at the pumps, Brazilian oil major Petrobras (NYSE:PBR) (Rio de Janeiro) is taking the opportunity to step into the breach with plans for a massive $113 billion expansion investment ranging from the development of new upstream oil fields to increase refining capacity to lower prices at the pumps.
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