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Petrobras cuts 2026–2030 spending to $109B amid lower oil prices, boosts upstream investment, cuts dividends, and reduces renewables.
Petrobras has cut its 2026–2030 capital spending to $109 billion, a 2% reduction, due to lower oil prices, now forecasting an average Brent crude price of $63 per barrel.
Despite the overall cut, upstream spending will rise to $78 billion to boost domestic oil output under President Lula’s economic push.
Dividends are expected at $45–50 billion, down from $55 billion, with no estimate for extraordinary dividends.
The plan prioritizes pre-salt fields and refining, while renewable energy spending drops to $4 billion.
Shares fell 3.4%, the largest intraday drop since August, amid investor concerns over returns.
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Petrobras reduce el gasto de 2026–2030 a 109.000 millones de dólares en medio de precios más bajos del petróleo, impulsa la inversión upstream, reduce dividendos y reduce las energías renovables.