Petroleo Brasileiro (PBR), also known as Petrobras, said Thursday it expects $109 billion in total investments from 2026 through 2030.

Of the planned investments, $91 billion will go to projects under the company's implementation portfolio, with the remaining to be spent on its under evaluation portfolio. In November 2024, Petrobras projected $111 billion in total investments between 2025 and 2029.

Petrobras also said Thursday it plans to implement cost optimization initiatives to save $12 billion in manageable operating expenses from 2025 to 2030. The initiatives include reduced spending on nonproducing platforms and postponing non-priority services and maintenance.