Petrobras’ five-year investment plan reduced by 2% to $109bn

Brazil’s state-owned Petrobras has announced that its Board of Directors approved its concern program for the adjacent 5 years, Business Plan 2026–2030 (BP 2026–30).

The concern fund was reduced by 2% to $109bn (581.2bn reais) arsenic the state-owned lipid and state institution adjusts to little planetary lipid prices.

Out of the full investment, $91bn volition beryllium directed to projects nether implementation, including $10bn for projects needing fund confirmation and financing analysis.

The remaining $18bn fund is inactive nether investigation “with a little grade of maturity”.

Petrobras is simply a important root of currency for the Brazilian national fund and its spending is monitored by investors and the government.

This is the archetypal clip Petrobras has reduced its five-year fund since President Luiz Inacio Lula da Silva took bureau successful 2023, reported Bloomberg.

The 2026–30 concern program allocates $69.2bn for exploration and accumulation projects wrong the Implementation Target Portfolio implicit the 5 years.

From this investment, 62% is designated for pre-salt fields, 24% for post-salt fields and 10% for exploration activities.

It besides includes a 4% allocation for onshore projects, shallow-water assets, planetary assets, exertion initiatives oregon decarbonisation projects.

Petrobras plans to instrumentality 8 caller accumulation systems by 2030, with an further 10 projects considered aft 2030.

The institution expects to drill 15 wells astatine Brazil’s Equatorial Margin, wherever it precocious received a licence for its archetypal well.

It forecasts highest lipid accumulation to scope 2.7 cardinal barrels per time (mbbl/d) successful 2028 and a highest full accumulation of 3.4 cardinal barrels of lipid equivalent and state per time successful 2028 and 2029.

Petrobras besides raised its short-term people to 2.5mbbl/d of lipid for the adjacent twelvemonth from the earlier 2.4mbbl/d.

Additionally, the institution has committed to a regular dividend payout of $45–$50bn for the 2026–30 period, portion maintaining its gross indebtedness bounds of $75bn.

"Petrobras’ five-year concern program reduced by 2% to $109bn " was primitively created and published by Offshore Technology, a GlobalData owned brand.

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