Petrobras acquires 86% of equipment locally

Brazil's federal oil giant Petrobras (NYSE: PBR) acquired US$1.6bn in materials and equipment between January and September, 85.7% of which came from domestic suppliers, the company said in a statement Tuesday. In September alone, acquisitions totaled US$206mn, with local supplies representing US$177mn, or 86.2% of the total. The company's exploration and production area accounted for the bulk of January-September purchases, with US$1bn, or 65% of the total. Next came supply and refining with US$288mn (18%), followed by engineering with US$91mn (6%), information technology with US$64mn (4%), transportation with US$55mn (3%), and research with US$24mn (1%). Purchases by other areas totaled US$44mn (3%).