Petrobras 2025-2029 Strategic Plan likely to reach $110 billion, sources claim

Two sources with knowledge of the matter said that the new Petrobras strategic plan would include investments worth $110 billion for 2025-2029. This represents an increase of 8% over its previous multi-year projection.

Sources said that executives are still finalizing the plan, which Petrobras expects to release by late November.

Petrobras has not responded to comments immediately.

The company publishes a plan every year that outlines its investment plans for the next few years and the strategic areas on which it will concentrate.

One source said that the current amount is around $107 billion. However, there are still adjustments to make, so the final figure is more likely to be between $110 and $120 billion.

According to the latest Petrobras plan, oil exploration and production will be again a top priority.

According to one source, the company also believes that it can get Ibama's green light for an investment of between $3 billion and 4 billion dollars at the Equatorial margin, so they should include this in their plans.

Drilling a well

The mouth of the Amazon River. Reporting by Rodrigo Viga Gaier, Rio de Janeiro. Writing by Andre Romani. Editing by Kylie Madry.

(source: Reuters)