Photo: screengrab from the official website of Brasil 247

By Brasil 247 -  Petrobras unveiled a new five-year business plan on Thursday, setting strategic guidelines for 2026-2030 aimed at reinforcing production growth, exploring new frontiers and restoring mature fields along Brazil's offshore basins. The announcement was reported by Brasil 247, which detailed the financial scope and operational priorities under the leadership of Magda Chambriard.

Petrobras will allocate $106 billion (R$565.5 billion) over the next five years, with $91 billion dedicated to ongoing projects and another $15 billion reserved for a portfolio of potential new ventures, according to O Globo. Although slightly below the previous $111 billion plan, the investment level reflects a disciplined strategy focused on capital efficiency, productivity and high-return assets across the Campos and Santos basins, particularly in the pre-salt region.

A central pillar of the plan is the Equatorial Margin, described as Brazil's most promising exploratory frontier in decades. Petrobras intends to drill eight wells across six blocks from Amapá to Rio Grande do Norte. The company recently obtained its first Ibama license to drill in the Foz do Amazonas Basin, marking an early but essential research phase to assess the region's energy potential.

Chambriard has emphasized that Petrobras is closely monitoring global oil price trends, with Brent prices oscillating around $60 per barrel. In this environment, the company plans to maintain tight cost controls while prioritizing projects with stronger financial returns, especially within the pre-salt, which continues to supply the bulk of Petrobras's cash flow.

Regarding refining capacity, the current plan does not include repurchasing refineries sold during the Bolsonaro administration. However, sources cited by O Globo note that reconsidering refinery expansion could return to the agenda depending on market conditions and domestic demand growth.

The 2026-2030 plan signals a strategic balance between growth, financial discipline and long-term energy security. Petrobras aims to strengthen production, widen exploratory capabilities and concentrate resources on high-value projects for both the country and its shareholders.

(Reported by Brasil 247 on November 27, 2025)