Brazilian state-run energy heavyweight Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, expects to release its 2012-2016 strategic investment plan "somewhere around August," Chief Financial Officer Almir Barbassa said late Tuesday.

Barbassa, speaking to reporters during a press conference to announce the company's first-quarter earnings, said that crude oil and production targets for this year and coming years will likely be released as part of the strategic plan. Petrobras is in the process of re-evaluating the operational performance of aging oil platforms in the Campos Basin , where more than 90% of Brazil 's crude oil is produced, Barbassa said.

Petrobras also expects demand for gasoline and diesel fuel to climb in the second and third quarters on seasonal factors, Barbassa said. "In the second quarter, we'll have the [agricultural] harvest," Barbassa said. "The second and third quarters always have greater demand" for gasoline and diesel.

Fuels demand was weaker in the first quarter, Barbassa noted, because of seasonal factors. "It's the end of the year, parties," Barbassa said. "Agriculture activity is also reduced."

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