Tuesday, November 24, 2020

Brazilian Petrobras plans to cut operating costs to $ 8.1 billion by 2023

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

The state-controlled Brazilian oil company Petrobras has announced plans to cut operating costs by $ 8.1 billion in the period from 2019 to 2023, the company said.

Petrobras said it aims to economize on spending, mainly by cutting staff-related expenses and spending on advertising and office space.

The company will launch a voluntary layoff plan.

The company indicated that the proposed reduction in operating costs would reduce provisions in the Business Plan 2019-2023, originally estimated at $ 122.6 billion for the five-year plan.

Adding that it plans to sell some mature oil fields in Brazil.

 

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
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