Petrobras plans an investment offensive of 110 billion dollars

The Brazilian state oil company Petrobras is on the verge of releasing a new strategic plan that envisages around $110 billion in investments for the years 2025 to 2029. This represents an 8% increase compared to the previous multi-year forecast plan, according to two sources familiar with the matter. The plan is to be unveiled at the end of November; however, it is still in the final discussion phases among Petrobras executives. A company representative initially declined to comment. Each year, the company presents a plan outlining its investment intentions and strategic priorities. According to one source, the amount currently under discussion is about $107 billion, with adjustments still pending. Therefore, the final sum could reach approximately $110 billion. A key focus of the new plan is once again on oil and gas exploration and production. Additionally, the plan includes investments of $3 to $4 billion for the Equatorial Margin, where Petrobras hopes to receive the green light from the environmental agency Ibama for drilling activities at the mouth of the Amazon.