December 22, 2017 / 6:28 PM / in a year

Brazil's Petrobras says oil, gas auction bids not included in capex plan

SAO PAULO, Dec 22 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro said on Friday it had not allocated money to bid in upcoming oil and gas auctions in its five-year capital spending plan, according to a presentation hosted by exploration and production director Solange Guedes.

Petrobras, as the company is known, announced a plan to invest $74.5 billion in the 2018-22 period with the lion's share, about $60.3 billion, to go toward exploration and production. (Reporting by Roberto Samora; writing by Ana Mano, editing by G Crosse)

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