Petrobras maps plan to transform itself into global energy firm

Petroleo Brasileiro SA has mapped out a battle plan for the next decade that calls for the Brazilian state petroleum company to transform itself into a multinational energy company.The plan hinges on spending $32.9 billion to increase crude oil and gas production in Brazil significantly by 2005, improve refining-marketing efficiencies, expand domestic gas and power investments, and venture deeper into international exploration and production.Petrobras Pres. and CEO Henri Philippe Reichstul outlined his company's strategy for the coming decade in an exclusive interview with Oil & Gas Journal.The strategy's goal is to position Petrobras to better compete with private-sector companies ...

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