Petrobras plans to invest approximately $20 billion annually to expand production capacity as of June 28, 2026. The company aims to add 675,000 barrels per day through new floating production, storage, and offloading (FPSO) units.
A double-digit free cash flow yield allows Petrobras to fund these expenditures without issuing new debt. The firm targets a sustainable 7% dividend yield while continuing to reduce leverage. Management is prioritizing direct shareholder dividends over share buybacks.