Rio De Janeiro —The next Petroleo Brasileiro SA multi-year business plan is expected to commit to $60 billion to $70 billion in capital expenditures as Brazil’s state-controlled oil company expects to focus on exploration and production in subsalt areas, two sources with knowledge of the matter said.
The 2022-2026 Petrobras plan, to be released on Nov. 25, is in the final phase of drafting. But it will raise capital expenditures from the current $55 billion of the 2021-2025 program.
- Reuters (Reporting by Rodrigo Viga Gaier in Rio de Janeiro, writing by Tatiana Bautzer, editing by Chris Reese)
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