Brazil's Petrobras Plans $102 Billion Investment to Revitalize Company
Feb 14,2024 | DAXTROMNSOLAR
Brazil's state-run oil company, Petrobras, recently announced its plans to invest $102 billion by 2023 in order to revitalize the company and enhance its growth trajectory. The investment is expected to focus on the development and exploration of oil fields, as well as the expansion of its gas and renewable energy businesses.
The strategic plan aims to strengthen Petrobras' position in the global energy market and improve its financial performance. The company plans to increase its oil production capacity to 3.3 million barrels per day by 2026, which is projected to significantly contribute to Brazil's overall oil production.
This investment comes as Petrobras seeks to recover from a corruption scandal that tarnished its reputation and led to significant losses. The company aims to regain investor confidence and attract more private capital through its revitalization efforts.
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