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Petrobras approves 2020-2024 Strategic Plan


29 Nov 2019

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Petrobras has approved its Strategic Plan for the 2020-2024 five-year period, in line with the company's strategic positioning, released on September 26, 2019, where the Company aims to be the best energy company in generating value for the shareholder, with focus on oil and gas and with safety, respect for people and the environment.

Petrobras of the future will be a company with an operational return higher than its capital cost, positioned in world-class assets, with operation focused on oil and gas, advancing in the exploration and production of the Brazilian pre-salt, with an efficient refining system, capable of processing 1.1 million bpd. In relation to renewable energy sources, the company will act in research seeking to acquire skills for the eventual positioning in the long term in wind and solar energy.

The CAPEX forecasted for the five-year period is US$ 75.7 billion, of which 85% is allocated to the E&P segment. This allocation is in line with its strategic positioning, focusing on E&P assets, especially in the pre-salt, in which Petrobras has a competitive advantage and generates more return on investments.

The divestments forecasted in the plan vary between US$ 20-30 billion for the 2020-2024 period, being the highest concentration in the years 2020 and 2021.

Click here for full announcement

Source: Petrobras





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