Petrobras to release new strategic plan in November

(Reuters) – Petrobras is set to present its new strategic plan for the coming years in November, an executive for Brazil’s state-run company said on Wednesday, hinting it should be “consistent” with the current focus on offshore oil formation known as pre-salt.

During an oil and gas event in Rio de Janeiro, Petrobras’ executive director of governance, Salvador Dahan, said that the company will continue “what it has been doing” in pre-salt exploration and production

“The plan continues to address our focus in Brazil and with development in the pre-salt, with a lot of investment in exploration and production, but also in the downstream (logistics segments),” he said.

Part of the future investment will also be focused in areas such as decarbonization and renewable energies, Dahan added without giving further details.

The executive did not disclosure the dollar value for the new plan.

Last year, the company’s plan stood at $68 billion over five years, almost 25% more than the previous program.

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