Petrobras cuts output, postpones dividend in face of coronavirus
Petrobras cuts output, postpones dividend in face of coronavirus
Brazil’s state-run oil firm Petrobras announced a series of cost-cutting measures on Thursday in response to the economic fallout from the coronavirus pandemic, reducing production, idling some platforms and postponing a dividend payment.
In a securities filing, Petroleo Brasileiro SA, as the firm is known, said it was reducing oil production by 100,000 barrels per day through the end of March due to lower glo...