Petrobras to invest $220.6 billion from 2014 to 2018
State-owned Petrobras’s Business and Management Plan assigns for the 2014-2018 period investments amounting to $220.6 billion considering short- and medium-term goals. In the long term, Petrobras’s 2030 Strategic Plan aims at placing the oil giant among the five largest integrated energy companies in the world.
Both plans were approved on Tuesday (Feb. 25) by the company’s Board of Directors and should be presented to investors and shareholders Wednesday (26) by Petrobras CEO Graça Foster.
According to a note issued by the oil company, Petrobras’s 2030 Strategic Plan focuses mainly on boosting its oil production until 2020 and keeping it steady from 2020 to 2030, with an output capacity at an average of 4 million oil barrels per day (bpd). The target set for the production is based on the different-paced auctions the government is expected to hold. Through these auctions and with the data available, the company foresees that Brazil’s oil output – i.e., not only Petrobras’s, but also that of other companies – will reach an average of 5.2 million bpd between 2020 and 2030.
With the rise in Petrobras’s oil production as a starting point, the plan draws up strategies for other business sectors of the company. One of its highlights is the integrated production of oil and natural gas, with an expansion to 3.9 million bpd in its refining capacity in 2030 and a larger supply of natural gas for the Brazilian market.
In the distribution area, the goal is to remain the leading producer in the country’s fuel market, and to increase customers’ preference for Petrobras as a brand. In the gas, energy and gas-chemical area, the plan shows an attempt to improve the company’s negotiations in its natural gas chain, ensuring the profitability of pre-salt gas and Brazil’s interior basins. Targets for the increase in the production of biofuels, ethanol, and biodiesel have also been set in the plan, aligned with the national target for gas (petrol) and diesel.
As for the company’s international operations, the Strategic Plan gives emphasis to oil and gas production in Latin America, Africa and the US. It further drafts guidelines for Petrobras’s corporate performance for profitability, social responsibility and integrated growth. As the note says, one of the challenges Petrobras must face is to run a technological system that contributes to its sustainable development.
Learn more about Petrobras’s plans at http://www.petrobras.com.br/fatos-e-dados/plano-estrategico-2030-e-plano-de-negocios-e-gestao-2014-2018
Translated by Fabrício Ferreira
Fonte: Petrobras to invest $220.6 billion from 2014 to 2018
