Stock Track | Petrobras Soars 5% as $111 Billion Investment Plan Targets Green Growth and Big Dividends

Stock Track11-22 23:50

Petrobras (PBR) shares surged 5.02% in Friday's pre-market trading, following the company's unveiling of its ambitious Business Plan 2025-2029.

The Brazilian oil and gas giant plans to invest a substantial $111 billion over the next five years, representing a 9% increase from its previous plan. This investment is aimed at replenishing reserves, boosting production with a reduced carbon footprint, and expanding its portfolio with more sustainable, high-quality products.

A significant portion of the investment, approximately $77.3 billion, will be allocated to the Exploration and Production (E&P) segment, with a focus on pre-salt assets. This emphasis on high-quality oil production is expected to lower costs and greenhouse gas emissions. Additionally, Petrobras is advancing revitalization projects in mature fields to enhance recovery rates.

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