Brazil’s Petrobras plans to invest a total US$105 billion in the five years to 2023 and divest assets worth US$35 billion, chief executive Roberto Castello Branco said this week as quoted by Reuters. Before Branco took the helm, the five-year investment program stood at US$84.1 billion and divestments were planned at US$26.9 billion. The news comes on the heels of a deal Petrobras struck with the Brazilian antitrust regulator that will allow it to sell several downstream assets in a bid, the company said, to encourage greater competition…