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Petrobras to rewrite strategic plan

Bnamericas
Brazilian federal energy company Petrobras (NYSE: PBR) has started to revise its strategic plan for 2004-2008, with more emphasis on the natural gas and electric power sectors, local papers reported. The revision, expected to be completed by April, will also give priority to the company's international activities both in exploration and production, as well as final sales. Company executives also plan to redefine Petrobras' role in the petrochemical sector as well as do studies for the construction of a liquefied natural gas (LNG) plant. Also under discussion are the 13 platforms slated for construction over the next four years. Petrobras originally had a capex plan of US$34.7bn for 2003-2007.

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