Petrobras' new plan prioritises upstream oil and gas operations [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
2025-29 strategic plan, reported Reuters , citing the company's CFO Fernando Melgarejo. The Brazilian state-run oil company is crafting a strategy that aims to rebuild its oil and gas reserves without relying on significant mergers or acquisitions. This approach is a pivot from the previous plan and is designed to avoid increasing the company's debt or cash requirements. In an interview with the news agency, Melgarejo said: “We will have a more upstream-focused vision. Every drop of oil is important to the company - if economically viable, obviously.” The new plan, which is still under development, is expected to address the predicted reduction in Petrobras' oil and gas reserves by 2030, a prospect Melgarejo described as “uncomfortable.” The CFO's comments come after a broader shake-up in the company's leadership, with Brazilian President Luiz Inacio Lula da Silva appointing Magda Chambriard as the new CEO, replacing Jean Paul Prates. Melgarejo, who took on the CFO role in
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