Petroleo Brasileiro SA (PETR4) expects to expand oil production in Nigeria as the Rio de Janeiro-based company looks to strengthen its presence in Africa’s top oil producer.
“Petrobras has been producing oil in Nigeria for 14 years, and expects to increase production,” Brazilian President Dilma Rousseff said today during a speech in Abuja, Nigeria’s capital. “Petrobras expects to establish an ever-stronger presence here in Nigeria.”
