The technical staff at Brazil's environmental agency Ibama recommended that the body deny authorization for Petrobras to carry out drilling in the environmentally sensitive Foz do Amazonas region, two sources familiar with the matter told Reuters.

Petrobras, the Brazilian state oil corporation, reported a disappointing fourth quarter with a net loss of 17 billion reais ($2.8 billion), compared to a profit of 31 billion reais the previous year.

Petrobras' 4Q24 results highlight financial strain and political challenges. Learn why PBR stock is risky due to uncertain catalysts and a declining earnings.

Brazil's Petrobras posted a net loss of 17 billion reais ($2.8 billion) in its fourth quarter due to non-recurring events, lower Brent prices and a "highly volatile" market for diesel, but aims to distribute dividends,

Shares of Brazil's state-run oil firm Petrobras fell 4% on Sao Paulo's B3 exchange as markets opened on Thursday, after analysts were caught by surprise by capital expenditure spending 15% above the firm's guidance for 2024.

Brazil’s Petrobras plans to invest in its giant pre-salt fields in the country’s Santos basin with a lot more focus in an attempt to prevent that production suffers harsh declines once these assets start maturing.

Brazil’s state-run oil company is gearing up to boost production to 2 million barrels per day (bpd) at the Buzios field by 2030

Brazilian regulators are cracking down on some offshore drilling by Petrobras and others, and the delays threaten to complicate Brazil's efforts to reverse last year’s oil production decline

Brazil’s state-run oil producer Petrobras should get rid of intermediaries and sell directly to consumers in order to lower fuel prices, President Luiz Inacio Lula da Silva said Monday.

Petrobras is hopeful the latest floating production, storage and offloading vessel that entered operation in the giant Buzios pre-salt field offshore Brazil may achieve massive flow rates per well. Petrobras this month started output from the Almirante Tamandare FPSO,

Recently, we reported that Brazilian President Luiz Inacio Lula da Silva has been pressing the country’s environmental regulators to approve oil drilling near the mouth of the Amazon River, arguing that revenue from this new fossil fuel supply could help finance a transition to green energy.

Brazilian regulators are cracking down on some offshore drilling by oil giants like Petrobras and Equinor ASA, complicating exploration and production projects at a key moment in the nation’s effort to boost crude output.