João Fernando
Petrobras approved the Strategic Plan 2050 (SP 2050) and Business Plan 2025-2029 (BP 2025-29) during a board directors meeting held on November 21. The SP 2050 focuses on the Brazilian company’s long-term aspirations, while the BP 2025-29 outlines actionable short and medium-term objectives to guide the company toward its vision for 2050, forecasting $111 billion in investments total, according to Petrobras’ announcement.
The SP 2050 highlights Petrobras’ commitment to becoming the leading diversified and integrated energy company, balancing its expertise in oil and gas with investments in low-carbon businesses such as petrochemicals, biofuels, and fertilizers. The plan emphasizes sustainability, safety, environmental stewardship, and a people-centered approach. Meanwhile, the BP 2025-29 provides a tactical framework, including $98 billion for ongoing projects and $13 billion for less mature opportunities requiring further evaluation. This investment represents a 9% increase over the previous Strategic Plan 2024-28+.
Petrobras continues to leverage its competitive advantage in low-cost, low-carbon oil production, aiming to maintain leadership in the energy transition while responsibly exploring oil and gas resources. The company aspires to sustain its contribution to Brazil’s energy supply, projecting an increase from 4.3 exajoules (EJ) in 2022 to 6.8 EJ by 2050, representing 31% of the nation’s primary energy supply. Petrobras has also reaffirmed its ambition to achieve net-zero operational emissions by 2050, underscoring its alignment with global sustainability goals.
Over the next five years, Petrobras plans to focus on replacing reserves, boosting production with reduced carbon intensity, and diversifying its portfolio with higher-quality, sustainable products. Financially, the company aims to optimize its capital structure, ensuring cash generation exceeds investment and debt obligations. By prioritizing high-return projects with robust net present value (NPV), Petrobras seeks to deliver significant value to society through dividends and taxes, while maintaining governance standards that ensure profitability and resilience.
