Rio de Janeiro – Petrobras should invest USD 84.1 billion over the next five years, from 2019 to 2023. The state-run oil company’s new business plan has been approved by the board of directors and submitted to the Brazilian Securities and Exchange Commission (CVM), it reported this Wednesday (5).
The amount exceeds that of 2018-2022, which was USD 74.4 billion.
The plan provides for USD 68 billion to go into Exploration and Production (E&P); USD 8.2 billion into Refining, Transportation and Sales; USD 5 billion into Gas and Energy; and USD 0.3 billion into Petrochemicals.
The company is expecting its oil output in Brazil to be up 10% next year, with total oil and gas output in Brazil and abroad increasing by 7%.
Translated by Gabriel Pomerancblum