Petrobras chief urges cost control

Petrobras plans: Chief Maria das Gracas Foster speaks on spending plan

EPA/HO/SCANPIX

related stories

By News wire

 25 June 2012 19:43 GMT

Shares of Brazil's state-led oil company Petrobras tumbled more than 7% on Monday after its chief executive said the company must be "more realistic" about its plans after missing annual output targets for nine straight years.

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index