Brazil

Petrobras has approved joining Brazil’s new diesel subsidy program worth 1 real per liter, as President Lula moves to cushion voters from rising oil prices.

Petrobras may issue extraordinary dividends in 2024 if conditions allow, despite a recent net loss. The company remains focused on balancing payouts with future investments.

Brazil’s state-run oil company Petrobras has reached an agreement with Abu Dhabi’s sovereign investor Mubadala to take back control of a refinery in Bahia, while also partnering with the fund …

In a move that signals Brazil’s ambition to explore new energy frontiers, the nation is considering venturing into the Equatorial Margin for oil extraction. However, Finance Minister Fernando Haddad emphasised …