*Brazil’s state oil company, Petrobras, has announced that it will invest US$111bn as part of its business plan for 2025-2029. This is 9% higher than the total investment volume projected in its previous strategic plan for 2024-2028. Of this, US$98bn will be spent on projects that are already being implemented, and US$13bn on projects that are under evaluation. The exploration and production segment of the plan includes investments of US$77.3bn, up 5% on the company’s previous plan, of which around 60% will be focused on pre-salt assets. A further US$19.6bn will be invested in refining, transport, marketing, petrochemicals and fertilisers, up 17% compared with the previous plan, while US$16.3bn has been earmarked as investments for the energy transition, up 42% compared with the previous plan.
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LatinNews Daily - 25 November 2024
In brief: Brazil’s Petrobras announces investment plan
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