PETROBRAS ANNOUNCES RETURN TO ETHANOL SECTOR WITH JOINT VENTURE AND INVESTMENT OF US$ 2.2 BILLION

Petrobras announced a US$2.2 billion investment in ethanol production between 2025 and 2029, marking its return to the sector. The state-owned company plans to produce 2 billion liters annually, focusing on partnerships with existing producers and using sugarcane and corn in the Southeast and Central-West regions. CEO Magda Chambriard emphasized ethanol as a key competitor to gasoline and a foundation for future fuels. Petrobras also unveiled a broader US$111 billion business plan for 2025–2029, including expansions in refining, oil exploration, fertilizers, and renewables like wind, solar, and green hydrogen. Dividend payments of up to US$55 billion are planned, alongside a special R$20 billion payout in December 2024. Projects include increasing refining capacity by 16.1%, investing in sustainable aviation fuels, and advancing biorefining. The plan represents an 8.8% increase over previous projections, with a strong emphasis on energy transition and decarbonization initiatives.
Source: Nova Cana