Petrobras Shifts Focus to Oil and Gas, Reveals New Strategic Plan [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
Company Research
Source: Yahoo! Finance
PBR has unveiled its new strategic plan that will mark a shift toward a greater emphasis on oil and gas exploration and production as the company seeks to rebuild its conventional reserves. A Sneak Peek Into PBR's New Plan The chief financial officer (“CFO”) of the company, Fernando Melgarejo, announced that Petrobras neither plans to make any new mergers and acquisitions as part of its new strategic plan for 2025-2029 nor does it require more cash and debt. While the Brazilian energy major did not announce anything explicitly, it is likely to concentrate on upstream operations. PBR added that it might face the “uncomfortable” scenario of a reduction in oil and gas reserves by the end of the decade. Petrobras' upstream focus can be gauged from the fact that it has been planning to explore the Equatorial Margin, Brazil's most promising and environmentally sensitive oil frontier. Confidence in Petrobras' New Management As part of a major shake-up, Brazilian President Luiz In
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