PETR4 Business Plan 2026–2030: CapEx and Cash Projections
Petrobras (PETR4) FRE projection tables under Plano de Negócios 2026–2030 are among the densest structured datasets in Brazilian filings — CapEx by year and portfolio, operating cash, dividends, debt caps.
This page summarizes a financial-projections analysis from the 2025 FRE. apicvm returns the filings.
The research question
> Extract the main financial metric projections for the active business-plan horizon.
CapEx total (PN 2026–2030)
| Year | CapEx total (US$ bn) |
|---|---|
| 2026 | 20.5 |
| 2027 | 23.5 |
| 2028 | 23.5 |
| 2029 | 21.3 |
| 2030 | 20.6 |
Implementation-portfolio CapEx runs lower (e.g. 2026 US$ 19.4bn → 2030 US$ 14.3bn), with E&P as the largest bucket. Evaluation portfolio CapEx totals US$ 18bn across the horizon (E&P US$ 9bn, RTC US$ 5bn, G&EBC US$ 5bn).
Cash, dividends, leverage (horizon aggregates)
| Metric | PN 2026–2030 figure |
|---|---|
| Operating cash generation | US$ 190–220bn total; annual path 35 → 40 → 42 → 42 → 42 |
| Investment cash flow | US$ 85–95bn |
| Dividends | US$ 45–50bn |
| Gross debt limit | < US$ 75bn |
| Leases | US$ 45–50bn |
| Financial expenses | US$ 5–10bn |
| CTPP (oil produced cost) | US$ 30.4/boe average (PE 2026–2030) |
Validity language
Projections are labeled hypothetical and valid until the next annual Plan review or a scenario change that justifies revision. Prior PE/PN projection sets were replaced when PN 2026–30 became the active reference.
For research pipelines, treat the FRE projection section as a structured table extract problem — section name filters beat naive chunk retrieval.
Replicate with apicvm
export APICVM_KEY='apicvm_...'
export APICVM_URL='https://apicvm.dev'
curl -H "Authorization: Bearer $APICVM_KEY" \
"$APICVM_URL/v1/companies/resolve?query=PETR4&by=ticker"
curl -H "Authorization: Bearer $APICVM_KEY" \
"$APICVM_URL/v1/documents?ticker=PETR4&type=FRE&year=2025&name=Proje"
curl -X POST -H "Authorization: Bearer $APICVM_KEY" \
-H "Content-Type: application/json" \
-d '{"callback_url":"https://your-server/callback","document":{"id":"<id>"}}' \
"$APICVM_URL/v1/document-text-extractions"Methodology note
Findings above come from a completed Hold analysis of the company's public 2025 FRE. This is a research illustration, not investment, legal, or tax advice. Verify numbers against the original filing before trading, modeling, or publishing reports.
Limitations
- apicvm returns filings and extracted text — it does not classify risks or compute coverage ratios.
- Figures are as of the FRE filing date; later ITRs or facts relevantes can update them.
- Corpus coverage depends on ingestion lag.
Next steps
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