Brazil

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Description: Board members at Petrobras, the Brazilian state oil company, are calling on the company to tame costs linked to its $224 billion 2011-2015 spending plan. The investment program seeks to support the company's plan to boost oil output by 40% by 2014, becoming one of the world's top oil producers, mainly by developing and tapping pre-salt deepwater reserves. Petrobras executives are reviewing the plan to include cost-reduction components that may ease board members' concerns.
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