Petrobras considers $106 billion spending plan for 2026-2030 - Bloomberg

Investing.com -- Brazil’s state-controlled oil producer Petrobras is considering a reduction in capital spending to $106 billion for its 2026-2030 five-year plan, according to Bloomberg, citing people familiar with the matter.

The proposed figure represents a 4.5% decline from the $111 billion plan announced last year for the 2025-2029 period. The reduction reflects the company’s bearish outlook on crude oil prices, the sources said.

The discussions about the spending plan are still ongoing, and the final number could change before receiving approval from Petroleo Brasileiro SA’s board of directors, according to the people, who requested anonymity because they were discussing private deliberations.

Petrobras is scheduled to present its finalized five-year plan to the market on November 28. The company publishes these strategic spending plans annually.

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