May 9, 2019 / 11:23 AM / a month ago

Royal Dutch Shell to invest $2 billion per year in Brazil: newspaper

FILE PHOTO: Filled oil drums are seen at Royal Dutch Shell Plc's lubricants blending plant in the town of Torzhok, north-west of Tver, Russia, November 7, 2014. REUTERS/Sergei Karpukhin/File Photo

SAO PAULO (Reuters) - Royal Dutch Shell PLC has plans to invest about $2 billion per year in Brazil through 2025, Chief Executive Ben van Beurden told newspaper Valor Econômico in an exclusive interview.

Its investment plans could be increased to allow the company to bid in three upcoming oil and gas auctions, Valor reported in its Thursday edition based on the interview.

Royal Dutch Shell will not focus exclusively on oil projects, the report said. It is interested in exploring opportunities in natural gas, biofuels and the solar energy sector, Valor said.

Refineries are not part of the strategy, Valor reported.

In an emailed message to Reuters, Shell’s press office confirmed the information contained in Valor’s report.

Reporting by Ana Mano; editing by Jason Neely and Jonathan Oatis

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