86 articles
Brazil awarded over half its offered deep-water oil blocks to majors including Petrobras and Equinor, alongside independent PRIO SA. High premiums were recorded despite limited competition on some pre
Driven by a global diesel shortage, Petrobras aims to achieve 100% domestic fuel self-sufficiency ahead of Brazil's election. CEO Magda Chambriard confirmed this strategy will likely be included in th
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
Cheniere Energy signed a 22-year LNG supply agreement with Petrobras for 0.8 million tonnes annually. The deal secures supply flexibility for Brazil and supports Cheniere's capacity expansion financin
Brazil extends diesel subsidies and cuts gasoline and ethanol taxes to shield consumers from rising oil prices before the election, impacting Petrobras' pricing policy.
Petrobras may include the Sirius offshore gas project in Colombia in its 2027-2031 business plan as operator alongside Ecopetrol, pending environmental licensing and community consultations.
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
Braskem negotiates debt restructuring terms with creditors amidst an impasse over shareholder capital injections. While shareholders propose $2 billion, creditors demand $3 billion, risking a court-su
Brazil's Petrobras board approved joining a new government diesel subsidy program worth 1 real per liter. The initiative aims to stabilize fuel costs ahead of October's election while accumulating bil
Brazilian industrial workers, including those at oil platforms, initiated a strike due to negotiation deadlocks. Petrobras reports production continues normally despite the ongoing labor dispute.
Brazilian oil giant Petrobras signed production-sharing contracts with Ivory Coast for eight offshore blocks, securing a 90% stake to replenish reserves via African frontier exploration.
Surging global diesel prices have widened the gap with Petrobras' domestic rates, causing import delays and raising concerns about localized supply disruptions in Brazil's agricultural sector ahead of
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
Brazil's 12% oil export tax faces uncertainty after a court suspended the levy while the government extended it for 60 days, impacting major producers like Petrobras and Shell amidst geopolitical pric
Petrobras is exploring LNG exports from offshore fields amid surging Asian demand, engaging shipbuilder Seatrium for liquefaction projects despite domestic regulatory challenges. The state-controlled
PEMEX and Petrobras signed a strategic cooperation agreement to explore deepwater Jurassic reservoirs in the Gulf of Mexico. Leveraging Petrobras' salt-layer expertise, the project aims to mitigate ri
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 potential oil reserves off Brazil's Amazon coast, providing President Lula a political boost ahead of reelection despite commercial viability remaining uncertain. Production could
Petrobras and Pemex are partnering to explore ancient, deep-sea rock formations under the Gulf of Mexico for potential massive oil reserves. This high-risk project aims to revitalize Pemex and diversi
Petrobras and Pemex are collaborating to explore deep Jurassic rock formations off Mexico's coast for potential oil reserves. This high-risk venture aims to revitalize Pemex and could significantly im
Brazil’s Petrobras is considering improved payment terms for Braskem as the petrochemical producer faces an August 24 deadline to restructure debt and avoid bankruptcy protection.
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
Petrobras reported a 97% surge in Q2 net profit to 52.4 billion reais, driven by record crude production and refinery utilization rates exceeding 100%. Capital expenditure focused heavily on explorati
Braskem creditors urge state-owned Petrobras to inject capital before an August 24 deadline to avoid bankruptcy. Petrobras resists increasing ownership while negotiations continue amidst severe financ
Petrobras CEO Magda Chambriard indicated the company will likely exceed its 2026 oil production forecast after recent output surpassed targets by 200,000 barrels per day. Operational improvements have
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.
Petrobras halted a $1 billion gas pipeline study in Brazil due to regulatory uncertainty over a government proposal to auction gas volumes. The measure impacts Equinor's Raia project as well, raising
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
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