Petrobras Plans $111 Billion Investment By 2029
Date
11/22/2024 2:20:45 PM
(MENAFN- Brazil-Arab News Agency (ANBA))
Rio de Janeiro – On Thursday (21), Brazilian state-run oil firm Petrobras ' Board of Directors approved the 2025-2029 Business Plan (PN 2025-29). The forecast is for investments of USD 111 billion over the period, with USD 98 billion allocated to the Implementation Projects Portfolio and USD 13 billion to the Evaluation Projects Portfolio.
Of the total amount of USD 111 billion, it is forecast that USD 77 billion will be invested in exploration and production, USD 20 billion in refining, transportation, and marketing, USD 11 billion in gas and low-carbon energy, and USD 3 billion in corporate activities.
According to the company, this year the plan was divided into two parts: PE 2050, which aims to reflect on the future of the planet and how the company wants to be recognized by 2050, and PN 2025-29, with short- and medium-term goals.
Petrobras' planning estimates that energy supply during this period will increase from 4.3 exajoules (EJ) in 2022 to 6.8 EJ in 2050, which would keep the company responsible for 31% of Brazil's primary energy supply. Petrobras also aims to neutralize its operational emissions by 2050.
Petrobras: S
maller carbon footprint
The state-owned company says that it“will focus its efforts on taking advantage of opportunities in the oil and gas market, with an emphasis on reserve replacement, increasing production with a lower carbon footprint, and expanding the offering of more sustainable and higher-quality products in its portfolio.”
Read more:
Brazil's Petrobras: 2.7M barrels per day
Translated by Guilherme Miranda
Agência Petrobras
The post Petrobras plans $111 billion investment by 2029 appeared first on ANBA News Agency .
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