Petrobras plans R$ 84.1 billion in investments in productive activities by 2023

Petrobras has adopted new strategic planning and business plans. According to the State-owned oil company, a total US$ 84,1 billion in productive activities will be invested in productive activities, R$ 10 billion more than envisaged in the previous plan. The numbers were published by the company on Wednesday (5 December).

The plans maintain former metrics to improve workforce and operational safety and reduce debt, and adds one for profitability. “The new metric is the result of overcoming the bigger financial issues faced by the company, which has now recovered its capacity to choose. In this scenario, ensuring capital discipline becomes fundamental to the sustainable future of the company”, stated Petrobras president Ivan Monteiro.

He further said that Petrobras' historic comeback and recent major deliveries have deeply changed the company. “Safety and debt indicators have improved significantly, but the challenges have not ended. Now, with finances more in order, the company will seek a path to sustainable profitability, attentive to the changes around it,” he explained.

Investments and taxes

By 2023, Petrobras will generate US$ 600 billion in tax revenue to federal, state and municipal governments. During the same period, it will also invest R$ 13 billion on research and development and R$ 6 billion in social and environmental projects. The company also reported that it expects to create approximately 450 thousand jobs over the next five years with its productive activities.