Petrobras foresees a total investment of US$8,5 billion (about R$41,71 billion) in 2020, compared to the investment projection of US$12 billion informed at the beginning of the year.

Petrobras has the goal of cutting 2 billion dollars in operating costs as part of the pandemic response plan, the proposals, at first, were to postpone parts of the charter fees for platforms and support vessels to 2021 and the postponement of the beginning of validity of new contracts and anticipation of the end of others in offshore support. Petrobras advances in the process of selling its shares in wind farms in Rio Grande do Norte.

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This is the second time that the company tries to renegotiate some points with its suppliers. In the previous attempt, Petrobras aimed to postpone payments and anticipate the end of contracts that would be close to expiration.

Petrobras informed from the beginning that these negotiations are only being carried out with large companies, which have a greater capacity to withstand the weight of the crisis. According to sources heard by newspaper Valor, smaller suppliers are also suffering from the measures imposed by the state-owned oil company.

Petrobras said it was just looking for solutions to overcome this crisis with its major suppliers. The state-owned company also informed that each contract of goods and services is being analyzed individually in the renegotiation processes. The oil company said it was "always prioritizing the search for a negotiated solution".

Petrobras Sustainability Report announced by Petrobras last week

Petrobras reported last Wednesday (10), in its Sustainability Report, released in detail, the impacts of the new coronavirus pandemic on its operations and the measures to combat the crisis.

One of the highlights of the report was the cut of US$ 2 billion (about R$ 9,82 billion) in operating expenses.

The oil company managed to achieve this result by reducing and postponing human resources expenses, optimizing working capital, in addition to reducing the investment plan for this year.

A state forecasts a total investment of US$8,5 billion (about R$41,71 billion) in 2020, compared to the investment projection of US$12 billion informed at the beginning of the year.

During the pandemic caused by the coronavirus, Petrobras set the objective of preserving cash and optimizing oil production.