Petrobras keeps cutting
The Brazilian company will need to maintain momentum to meet its ambitious divestment objectives
Brazil's state-controlled Petrobras, still reeling from the Lava Jato corruption scandal and its monumental debt obligations, is banking on offloading subsidiaries and assets to restore its fortunes. The firm will pursue a 2023 divestment target of $26.9bn, focusing on its untapped deep-water pre-salt reserves and returning the company to financial health. Freeing its asset portfolio of low-performing onshore and shallow-water fields is the upstream priority in the near term. Last year, the national petroleum, natural gas and biofuels agency (ANP) gave the company a mid-2019 deadline to decide which of 254 fields to invest in or relinquish. Petrobras has been granted carte blanche by the Bol
Also in this section
30 December 2025
Heightened unpredictability in the global energy market underlines the vital nature of UGS, which provides reliability, affordability and resilience
29 December 2025
The surge in power demand created by the AI boom means energy policy and national security are now one and the same
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
