Petrobras Approves Ambitious $109 Billion Business Plan for 2026-2030 Emphasizing Energy Transition and Cost Efficiency

Petrobras' Board of Directors approved the Business Plan for 2026-2030 on November 27, 2025, outlining total investments of $109 billion, representing a slight reduction from earlier estimates but signaling a strong commitment to sustaining growth and advancing energy transition goals. The plan divides the investment between $91 billion allocated for ongoing and mature projects (Implementation Portfolio) and $18 billion for opportunities still under evaluation (Evaluation Portfolio).

A key highlight of the plan is a focus on maintaining Petrobras’ leading role in Brazil's energy supply, targeting a stable 31% share by 2050 while simultaneously expanding into low-carbon and renewable energy sources. The company plans to invest $69.2 billion predominantly in Exploration and Production (E&P), with emphasis on Brazil’s prolific Pre-Salt and Post-Salt fields. Production is expected to peak at 2.7 million barrels per day by 2028, supporting both domestic energy needs and export potential.

Alongside E&P, Petrobras will allocate $15.8 billion toward refining, transportation, marketing, petrochemicals, and fertilizers, enhancing operational efficiency and increasing its capacity for low-carbon fuels. The plan also earmarks around $4 billion for low-carbon energy sources, including renewable gas, as part of a $13 billion commitment to the energy transition.

To ensure financial resilience amid fluctuating oil prices, Petrobras is introducing a new mechanism categorizing investments into "Base Implementation" and "Target Implementation" portfolios. The company aims to achieve operational cost savings of $12 billion from 2025 to 2030, equal to an average annual expense reduction of 8.5%, by optimizing costs related to non-producing platforms and improving transport logistics.

The plan anticipates generating 311,000 jobs and contributing R$1.4 trillion in taxes over the five-year period, reinforcing Petrobras’ economic significance in Brazil. Additionally, the company reiterates its commitment to sustainability, aiming to neutralize operational emissions by 2050, aligning with global low-carbon transition trends.

Under President Magda Chambriard’s leadership, Petrobras balances ambitious production targets with disciplined capital management and a sustainability agenda. Analysts had anticipated the slight capex reduction due to declining oil prices, but the plan still marks a robust investment framework focusing on long-term resilience and sustainability.