Flávio Bolsonaro's adviser confirms Petrobras will stay state-owned with operational autonomy, criticizes fertilizer expansion, and proposes scrapping the 12% oil export tax to boost investment.
Petrobras announced a new oil discovery in ultra-deep waters off Amapa state, advancing its equatorial margin frontier. Three additional wells will be drilled starting in January to determine commerci
Petrobras received authorization from Brazilian environmental agency Ibama to begin drilling three new wells in Foz do Amazonas this January, aiming to assess the commercial viability of its oil disco
Brazil's Petrobras plans to raise diesel prices by approximately 1 real per liter to align with international benchmarks affected by geopolitical tensions. The move awaits government intervention to m
Petrobras reversed a planned gasoline price hike following new government tax cuts that offset discount removals. The move lowers prices by 0.19 reais per liter while awaiting implementation details f
Brazilian oil giant Petrobras has initiated negotiations for four offshore exploration blocks in Ghana's Keta Basin following government approval. This strategic move aims to diversify Petrobras' expl
Petrobras discovered hydrocarbons at the Morpho well in Brazil’s Foz do Amazonas basin, potentially opening a new frontier despite environmental concerns. The find aims to replenish reserves as pre-sa
Brazilian oil giant Petrobras reported a 96.8% surge in second-quarter net profit to $10.25 billion, significantly beating analyst estimates. Adjusted EBITDA also rose 79.6% year-over-year, driven by
Petrobras posted an 80% year-over-year rise in Q2 adjusted EBITDA to $18.4 billion, beating estimates amid supply disruptions from US-Iran tensions and record production output.
Brazil's crude oil production reached a record 4.5 million barrels per day in June, led by Petrobras maximizing offshore capacity amid Middle East conflicts. This surge helps offset global supply disr
Petrobras achieved a record 3.34 million barrels per day by exceeding design limits on offshore platforms like Buzios without building new vessels. The strategy addresses global supply constraints whi
Brazilian state-run oil firm Petrobras reported a 14.1% year-over-year increase in second-quarter production to 3.34 million barrels of oil equivalent per day, driven by new FPSO unit startups.
Petrobras approved a $1.2 billion investment to construct a renewable fuels plant producing biojet fuel and diesel at its Presidente Bernardes refinery, with operations scheduled to begin in 2030.
Petrobras will raise domestic gasoline prices to 2.61 reais per liter following government approval of new subsidies to mitigate rising crude costs linked to the Iran conflict. This marks the first pr
Petrobras plans to supply over a third of Brazil's nitrogen fertilizer demand by 2028 through plant reopenings, aiming to reduce 90% import dependency. However, the strategy faces political risks from
Petrobras missed Q1 profit estimates despite rising oil prices, maintaining stable domestic fuel costs amid the Middle East conflict. While production rose 16%, shareholder payouts fell short of analy
Brazilian state-run oil firm Petrobras reported a 7.2% drop in first-quarter net profit to 32.66 billion reais, missing analyst expectations despite a slight rise in net revenue.
Brazilian state-run oil company Petrobras increased natural gas prices by 19.2% starting May 1, citing geopolitical tensions and market benchmarks, while also hiking jet fuel costs by 18%.
Petrobras achieved record oil and gas production of 3.23 million barrels daily in Q1, running refineries at 95% capacity. This increase supports Latin American fuel stability amidst global market vola
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