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Petroleo Brasileiro SA- Petrobras ( (PBR) ) has issued an update.
On January 23, 2025, Petrobras announced the commencement of the binding phase for selling its 25% minority interest in the Tartaruga Field, located in Sergipe-Alagoas Basin. This move is part of Petrobras’ strategic adjustment, as the field is operated by SPE Tiêta, with Petrobras’ share of production averaging 41 barrels of oil per day and 689 cubic meters of associated gas per day in 2024. This step complies with the company’s internal regulations and relevant Brazilian decrees, potentially impacting its operational focus and portfolio management.
More about Petroleo Brasileiro SA- Petrobras
Petrobras, officially known as Petróleo Brasileiro S.A., is a major player in the oil and gas industry, primarily engaged in the exploration, development, and production of petroleum and natural gas. The company operates predominantly in Brazil, with a market focus on both domestic and international energy markets.
YTD Price Performance: 4.23%
Average Trading Volume: 14,587,389
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $85.18B
For a thorough assessment of PBR stock, go to TipRanks’ Stock Analysis page.
