Petrobras to Invest $45 Billion in 2012

RIO DE JANEIRO - Brazilian state-run energy giant Petroleo Brasileiro, or Petrobras, expects to spend $45 billion on capital investments in 2012, Chief Executive Maria das Gracas Foster said Monday.

The total would be more than the approximately $40 billion spent in 2011, Ms. Foster said during an event.

In June, Petrobras unveiled a $237 billion investment plan through 2016.

Copyright (c) 2012 Dow Jones & Company, Inc.

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