Petrobras to Benefit from Brazil's Heavy Industrial Investments

August 17, 2023--Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Brazil announced late last week it would invest 1.7 trillion reals (about US$341 billion) across multiple industries, including those for hydrocarbons, power generation and biofuels. About 82% of the overall amount is projected to be invested between 2023 and 2026, with the remaining expected in the following years. For Petrobras, the Novo PAC program will manage investments in offshore exploration, an increase in oil and gas production, and decarbonization projects. Additionally, Petrobras will expand and modernize its downstream sector with capacity expansions, unit revamps and other projects.