Brazilian state-run oil firm Petrobras announced that its management proposed to the company's board a $111 billion business plan for 2025-2029, according to a securities filing.
The filing said the business plan allows for ordinary dividends with a range starting at $45 billion for the period, and for up to $10 billion in extraordinary dividends.
The proposed plan exceedsthe previous plan for 2024-2028 by about $9 billion, with about$77 billion forexploration and production activities, toppingthe $73 billion earmarked in the previous plan.
It also outlines $20 billion for the Refining, Transportation, Marketing, Petrochemicals and Fertilizers segment, while projecting production of about 3.2 million barrels per day of oil equivalent.
The amount, if confirmed, would maintain Petrobras' status as Latin America's largest crude producer.
Since last year Petrobras has been under pressure by President Luiz Inacio Lula da Silva to deliver on investments to help Brazil's economy grow and generate local jobs.
