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G&P Strategy

Operate competitively in trading own natural gas, completely withdrawing from gas distribution and transportation.

Optimize the thermoelectric portfolio focusing on self-consumption and trading of own natural gas.

Innovation Strategy

Innovate to generate value in business, today and in the future, and achieve the goals in decarbonization.

Portfolio

E&P investments seek double resilience for project sustainability. The cost of production is an important element of resilience in all scenarios, particularly in an accelerated transition to a low-carbon economy. Then, our perspective is to operate with average E&P extraction costs of US$ 5.5/boe, being as low as US$ 4.2/boe in the case of pre-salt production, which will represent around 80% of the company’s total at the end of the fiveyear period. Our projects show positive economic results with a Brent of US$ 35/bbl in the long term.

In the refining, transportation, and commercialization segment, we seek portfolio management and regional synergy with exploration and production assets and with the main Brazilian markets. We strive for resilience through operational excellence in energy efficiency, emissions, and reliability, anchored by the RefTOP Program and AVANÇA LOG, aiming to be among the best refiners in the world regarding efficiency and operational performance.

In the G&P segment, we seek to adapt to the high share of renewables in the Brazilian energy matrix. Considering the intermittency of modern (wind and solar) sources and the seasonality of hydropower, dispatchable Thermal Power Plants are necessary to provide energy security to the growing incorporation of renewable sources. In this sense, we continue focusing on selling gas from our portfolio and optimizing our thermal power plants portfolio, seeking efficiency gains in the thermal power.