The Brazilian oil and gas group Petrobras has announced US$68bn in investments under its Strategic Plan 2022-2026 (PE 2022-26), a 24% increase over the previous plan for the same period. The group will invest US$57bn in its exploration and production segment; it aims to start operating 15 new platforms in 6 fields, and to raise its oil and gas production from 2.7 mboe/d in 2022 to 3.2 mboe/d in 2026. Petrobras will also invest US$6.1bn in refining, including US$1.5bn in the integration between the Duque de Caxias Refinery (Reduc) and GasLub Itaboraí, to produce high-quality derivatives and base oils, and US$1bn in the second unit of the Abreu e Lima Refinery (Rnest), to increase its production from 115,000 to 260,000 bbl/d in 2027. Another US$1.8bn will be invested in Commercialisation and Logistics and US$1bn in the Gas and Energy area (commissioning of the Itaboraí Gas Treatment Unit (GTU) in 2022). Over the 2022-2026 period, around US$2.8bn will be invested to reduce Petrobras' emissions, including investments in operational efficiency incorporated in the projects for emissions mitigation (scopes 1 and 2), bioproducts (renewable diesel and aviation biokerosene) and research and development. The group aims to achieve greenhouse gas emission neutrality in the operations under its control.