Brazil's state-run oil company PBR reports an 8.2% drop in third-quarter oil production, highlighting challenges in maintaining output amid operational setbacks.
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Brazilian state-run oil firm Petrobras' new strategic plan should include some $110 billion earmarked in investments for the 2025-2029 period, two sources familiar with the matter told Reuters, representing an 8% increase from its previous multi-year forecast.
Petrobras (PBR) closed at $13.79 in the latest trading session, marking no change from the prior day.
Brazilian oil giant Petrobras reported a 6.5% decrease year-on-year in total production in the third quarter, to 2.69 million barrels of oil equivalent per day (boepd), the state-controlled company said on Monday.
Petrobras (PBR) reachead $13.88 at the closing of the latest trading day, reflecting a -0.57% change compared to its last close.
Petrobras (PBR) closed at $14.40 in the latest trading session, marking a -0.14% move from the prior day.
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PBR plans to cut 2025 investments to $17 billion amid government pressure to boost CAPEX, focusing on realistic, high-return projects for increased output.
Brazil's Petrobras is set to reduce planned investments for next year, despite requests by the government for the state-run oil firm to increase CAPEX, three sources close to the matter told Reuters.
PBR achieves record refinery utilization at 96.8%, driving exceptional production levels and reinforcing its commitment to operational excellence.
In the most recent trading session, Petrobras (PBR) closed at $14.64, indicating a -1.81% shift from the previous trading day.