The money will fund new developments aimed at turning Brazil into a major oil exporter. Here is our economics correspondent Andrew Walker.
Petrobras has a very
ambitious
plan to spend over $200 billion on expanding production from Brazil's vast deep-sea oil and gas fields over the next four years. The plan to go to the capital market will raise an important part of the funds for that programme. Over $40 billion worth of the new shares will go to the government to pay for the right to exploit Brazil's offshore reserves. The company is
retain
ing the right to expand further the offer of new shares if there is sufficient demand. The total could
end up
as high as $75 billion.
A court in Portugal has found six people guilty of sexually abusing children in a state-run orphanage in Casa Pia. They have been given prison sentences of between 5 and 18 years. Among these convicted were a
prominent
television presenter, a former ambassador, a lawyer and a doctor. From Lisbon, here is Alison Roberts.
Six of the 32 former Casa Pia pupils whose testimony triggered the investigation eight years ago were in court to hear the judges hand down custodial sentences to the six men accused of abusing them.
Before that, the court heard a lengthy catalogue of hundreds of crimes ranging from attempted abuse to violent rape. Most were found to have been committed by Carlos Silvino, a driver at the institution, not only abusing children but passing them onto other abusers over three years.