Brazil’s state oil and gas major Petrobras has budgeted $102 billion for the next five years, with the bulk of the sum to be spent on a boost in oil and gas exploration. The five-year investment plan is a 31% increase on Petrobras’s budget for the previous five years, Reuters noted in a report on the company’s new strategic plan. "We increased Petrobras' total investments responsibly, focusing on capital discipline and commitment to keeping debt under control," the company’s chief executive, Jean-Paul Prates, said. Earlier…
