Strategic Plan

We have entered into a journey with the purpose of providing the energy that sets society into motion to realize its potential. What we do in here helps to move life out there.


Our vision

An integrated energy company that evolves with society, generates high value, and has a unique technical capability.


To achieve this, we guide our behavior based on five values:

 

Respect for life, people, and for the environment

 

Ethics and transparency

 

Market orientation

 

Overcoming and trust

 

Results

We know where we want to get and what paths will lead us there. They are outlined in our strategies.

To increase security along the journey, we continuously monitor the business environment, something that enables us to periodically review our strategies. Through them, we seek to achieve our goals.

Our business context is increasingly complex and competitive. To operate in it, we will strengthen ourselves with partnerships, cost efficiency, and digital transformation. In the coming years, we will adapt to the new market requirements with investments in new and more efficient ways of generating energy.

We know that our core strength lies in our unique technical ability. Therefore, we will continue prioritizing our activities in deep waters, in which we are technological leaders and find opportunities that generate greater returns, in integration with refining, transportation, and trade.

The implementation of our business strategies will be supported by six transversal strategies:

 

Competitiveness

 

Cost efficiency

 

Digital transformation

 

Work in partnerships

 

Strengthening of credibility, pride, and reputation

 

High performance culture

All of this is outlined in our 2040 Strategic Plan so we can achieve the following top metrics:


Safety

RAR

Reportable accident rate

<1

Below

¹RAR - Reportable Accident Rate per million man-hours of exposure to risk

Debt reduction

EL/EBITDA

Adjusted Net Debt/ Ebitda

Maximum of

1.5³

Below

¹Adjusted Net Debt/Ebitda does not take the effect of IFRS into account

³Maximum net leveraging of 25%

Profitability

ROCE

Return on capital employed

>11%

Above