Brazilian oil giant Petrobras has revised down its current five-year business plan through to 2019, cutting investments by a hefty 25%, as the company works to optmise its portfolio in light of a sharp drop in oil prices and the depreciation of the local currency.
Petrobras now expects to invest $98.4 billion from 2015 to 2019, a decline of about $32 billion from the $130.3
