Petrobras Keeps $109 Billion Plan, Advances Braskem Accord to Expand Influence

Overview

• The 2026–2030 investment plan totals $109 billion, which executives said is effectively unchanged from the prior $111 billion blueprint.
• About $10 billion in projects will be reviewed every quarter to reassess viability and calibrate costs and returns with Brent near $63 a barrel.
• Chambriard said a revised Braskem shareholders’ pact is close and could be signed this year—Petrobras holds 36% of capital and 47% of voting shares—and the company seeks more sway through executive nominations and deeper integration.
• Valor reported that Novonor would retain 4% in preferred shares while creditor banks would join the transaction without executing roughly R$19 billion in debts, a restructuring that would shift governance to the new pact.
• Operationally, Petrobras is studying tie-backs to accelerate output at Sudoeste de Tartaruga Verde and said its Foz do Amazonas well has reached 4,000 of a planned 7,000 meters.