Brazilian state-run oil firm Petrobras has confirmed the presence of oil in a well at its offshore Buzios field, the firm said on Friday, without giving details on the size of the discovery.

Petrobras expects output in Buzios to reach 1 million bpd by the second half of 2025, as production from the Almirante Tamandare FPSO ramps up. According to data from Brazilian market regulator ANP, Buzios is currently producing about 744,

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.

Brazil's President Luiz Inacio Lula da Silva will meet with environmental agency Ibama either this week or the next to discuss Petrobras' bid to drill for oil near the mouth of the Amazon river, he told a local radio station on Wednesday.

Petrobras has approached the market with several tenders to charter vessels to attend its needs and anticipate a rise in costs.

Brazil's state-run oil firm Petrobras should consider selling fuel directly to large consumers in order to reduce prices at the pump, President Luiz Inacio Lula da Silva said on Monday, without giving further details on his suggestion.

Petrobras starts production at Buzios 7, the company's sixth project in the Buzios oilshore offshore Brazil, expected to raise production in the field to as much as 1M bbl/day by H2.

Brazilian state-run oil company Petrobras and lender Banco do Brasil have contracted two export credit notes totaling 6.5 billion reais ($1.14 billion), Petrobras said on Thursday.

Brazilian state-run oil firm Petrobras expects to boost its diesel output by some 120,000 barrels per day (bpd) this year due to the expansion of S-10 diesel production in some of its refineries, the firm's industrial processes head said.

Brazil's state-run oil firm Petrobras is considering canceling a tender to charter a production storage and offloading vessel (FPSO) from India's Shapoorji Pallonji Energy, two sources with knowledge of the matter told Reuters.

Brazil's state-run oil company Petrobras will invest around 5.5 billion reais ($960 million) to turn its Riograndense refinery into the country's first biorefinery, Chief Executive Magda Chambriard said on Monday.

Brazil is the Schrödinger’s Cat of Opec+ – it is both in the group and out of it at the same time. Last week, the South American giant did announce that it had joined. But how exactly it is a member awaits the test of reality.