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37

Petrobas Continues to Delay 5-year Strategy Plan

Brazilian national oil company has again delayed release of its 2009-2013 strategic business plan due to market uncertainties and volatility, according to the company

"The Board of Directors reiterated the maintenance of Petrobras' investment policy and that the existing evaluations indicate the feasibility of the investments in the pre-salt area," the company said in a statement.

The plan has been expected since October to shed light on the Brazilian operator's plan to develop its pre-salt hydrocarbons.

Author: Ksenia Kochneva