Petrobras $PETR3 (+5,29 %)
$PETR4 (+4,02 %) presents five-year business plan for US$111 billion and US$10 billion in additional dividends.

Brazilian state-owned oil company Petrobras announced on Monday that its management has proposed a US$111 billion business plan for the period 2025-2029 to the board of directors, according to a securities document.

The proposal states that the business plan calls for ordinary dividends of US$45 billion for the period and extraordinary dividends of up to US$10 billion.

The proposed plan exceeds the previous plan for 2024-2028 by approximately US$9 billion, with approximately US$77 billion earmarked for exploration and production activities, which exceeds the US$73 billion earmarked in the previous plan.

In addition, US$ 20 billion is earmarked for refining, transportation, marketing, petrochemicals and fertilizers, with an expected production of around 3.2 million barrels of oil equivalent per day.

If this amount is confirmed, Petrobras would retain its status as the largest crude oil producer in Latin America.

Since last year, Petrobras has been under pressure from President Luiz Inacio Lula da Silva to make investments in order to promote the growth of the Brazilian economy and create local jobs.

The Reuters news agency reported last month, citing sources, that the plan is likely to lead to a reduction in planned investments for 2025 compared to the previous plan.

This makes Petrobras' new targets all the more encouraging.