Petrobras to Raise 2022-2026 Capex to $60-$70 Billion

The state-run company plans to increase focus on exploration and production in subsalt areas.

Reuters

Brazilian state-run oil company Petrobras said on Nov. 19 that its capital expenditure (capex) plans for the 2022-2026 period are likely to be between $60 to $70 billion.

Petrobras said in a securities filing that the new capex is still under analysis by its board of directors, but noted that "figures mentioned in the story are close to those...under evaluation".

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