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The largest company in Brazil, approved the investment plan for the next five years, after in 2017, the oil company increased its investment forecast by 0.3% compared to 2016, after consecutively cutting investments in previous years due to the serious economic crisis that the company is going through.
Of the total investments announced US S 68,800 million will be for the exploration and production area and another US $ 8,200 million for crude oil refining, transportation and commercialization, approved by the Board of Directors of the Brazilian state oil company.
Brazils state oil company Petrobras has announced it will invest US $ 84.1 billion between 2019 and 2023, almost US S 2,600 million more than in the 2018-2022 period, according to the company.
The Board of Directors of Petrobras, the largest company in Brazil, approved the investment plan for the next five years, after which in 2017, the oil company increased its investment forecast by 0.3% compared to 2016, after cutting consecutively investments in previous years due to the serious economic crisis that the company is growing through.
According to Petrobras forecasts, the price of oil in the next five years should rise from US S 66 per barrel in 2019 to 75 in 2022.
Of the total investments announced, US S 68,800 million will be for the exploration and production area and another US $ 8:200 million for crude oil refining, transportation and marketing.
Another US $ 5,000 million will be for the gas and energy area, and 300 million for the petrochemical industry. There is also the forecast to allocate US S 400 million for wind, solar and biofuels.
Petrobras business plan also contemplates continuing with its divestment process, with which it expects to raise up to US S 26,900 million in the next five years.
Petrobras expects that in 2019, the production of oil in Brazil will grow by 10% and increase its total production by 7%, with the entry into operation of 5 new systems this year and another three next year.
Between 2019 and 2023, the projection is for an average annual growth of 5% in the total production of oil and natural gas.
The largest Brazilian company will have to contribute over the next five years with nearly 600,000 million reais (US S 155,000 million) in taxes and tributes, while another 13,000 million reais (US $ 3,375 million) will be invested in research and development, as well as another 6.000 million reais (US $ 1,550 million) in social projects throughout the country.
The oil company expects to generate 450,000 jobs in Brazil with the announced investments.
Petrobras business plan also contemplates continuing with its divestment process, with which it expects to raise up to US S 26,900 million in the next five years.
Petrobras had set out to obtain US S 21,000 million with the sale of assets in the period 2017-2018, although until the third quarter of this year, it had raised close to US $ 5,000 million.
The largest company in Brazil seeks to recover from the serious economic crisis that it suffers as a result of the fall in oil prices in the international market and the revelation of a large corruption network that diverted billions of dollars from the company between 2003 and 2014, in a plot formed by senior officials of the company businessmen and politicians, who rigged the contracts.
The president-elect of Brazil. Jair Bolsonaro, and his economic team have assured that they could privatize parts of Petrobras during his government. |
