Reuters, 03/09/10
Brazilian state-run oil firm Petrobras said Tuesday it will invest 79.5 billion reais ($44 billion) in 2010, slightly lower than the figure offered on Monday by a company director.
Petrobras said in a statement it will invest 35.7 billion reais (US$19.9 billion) in exploration and production and 30.8 billion reais ($17.2 billion) in refining and petrochemicals, with the remainder going toward areas such as distribution and biofuels.
The company said that investment plan still had to be approved by Congress.
Posted by Brazil Institute 
