Brazil's Petrobras to stop onshore drilling rigs in 6 states -Valor
SAO PAULO Feb 23 (Reuters) - Brazil's state-run Petroleo Brasileiro SA plans to shut down onshore drilling rigs in at least six states because of the low price of oil, newspaper Valor Economico reported on Tuesday, citing a source with knowledge of the operations.
The paper said Petrobras, as the company is known, would suspend rig operations and other equipment in the states of Espirito Santo, Bahia, Sergipe, Alagoas, Rio Grande do Norte and Ceará.
Petrobras is struggling to bring down its debt and has already pared back over the past year its massive five-year investment plan by nearly a quarter to $98 billion.
The source said the cuts in exploration in these states would "eventually affect production," Valor reported.
The company told Reuters in an email on Monday that it was trimming back its drilling operations in Bahia but did not elaborate on other states.
Petrobras representatives could not confirm or deny the report and were unable to provide further information on Tuesday morning. (Reporting by Reese Ewing; Editing by Lisa Von Ahn)
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