Rio de Janeiro – Petrobras’ 2010-2014 Business Plan, announced on this afternoon by the Brazilian state-owned oil company’s president, José Sergio Gabrielli, provides for investment of US$ 224 billion over the next five years.
Passed by the company’s Board of Managers in the city of São Paulo last Friday, the new plan forecasts average investment of US$ 44.8 billion per year.
Petrobras ascribed its revised investment volume to the dynamics of global and domestic economy and energy, which called for a new plan.
“The pillars of integrated growth, profitability, and social and environmental responsibility provide the foundation for Petrobras’ strategies, targeting sustainable domestic and international action,” stated the company.
Out of the investment provided for in the plan, 95% (US$ 212.3 billion) will be allocated to Brazil, and 5% (US$ 11.7 billion) should go to foreign countries, “with a significant share of investment targeting the domestic supplier market, at a rate of 67%, which translates into roughly US$ 28.4 billion.”
*Translated by Gabriel Pomerancblum
