Gabriel Pardo's questions to Petroleo Brasileiro SA Petrobras (PBR) leadership • Q2 2025
Question
Gabriel Pardo of Citigroup asked about the flexibility of next year's investment plan, considering a tighter industry environment and softer oil prices, and how potential M&A or LPG investments could enhance CapEx efficiency.
Answer
CEO Magda Chambriard emphasized that the core focus remains on highly profitable E&P projects, citing an instance where a project was moved back to an earlier phase for optimization to ensure value creation in the current price environment. CFO Fernando Meaugarejo added that the next business plan will reflect capital discipline and cost reduction to adapt to the new scenario while maintaining the company's debt target. An executive, Renata, affirmed the commitment to fully execute the established CapEx plan.