EnergyWatch

France's Total plans to invest USD 1 bln annually in Brazil

French oil major Total plans to USD 1 billion annually in Brazilian oil projects over a period of several years, reports Reuters.

Total is prepared to spend USD 1 billion annually in Brazil, according to a statement from the oil major's Brazilian subsidiary Total E&P do Brasil's CEO Maxime Rabilloud, reports Reuters.

The news of the coming investments in, for instance, Brazilian infrastructure come after Total entered a deal with state-owned Brazilian oil company Petrobras to acquire assets totaling USD 2.2 billion. Petrobras has been mired in crisis in recent years, due to factors including a large-scale corruption scandal.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs