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Brazil looks to solve its energy security travails
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
Brazil awaits contentious Equatorial Margin call
Political rancour is rising as politicians appeal for environmental licence to explore the mouth of the Amazon
Brazil seeks greater oil market influence
Despite environmental criticism, President Lula sees opportunity to build bridges with OPEC+ allies
Brazilian upstream enjoys bumper year
Soaring pre-salt production sees Latin America’s largest country pull away from the local competition
Rise of Brics challenges oil world order
The five economies are shaking up global markets, and they could be on the cusp of a major break from the existing order
Petrobras faces another period of uncertainty
Investors are wary about government intervention as the NOC welcomes its latest CEO
Brazilian indies enter rapid production growth phase
M&A activity may have slowed in recent months, but turbocharging production is the new goal for the country’s emerging independents
Petrobras in the crosshairs as election run-off looms
Ballot box verdict could prove existential for the NOC, amid controversial calls from the incumbent to break apart the Brazilian energy giant
Letter from South America: Elections could impact Petrobras policy
The upcoming election pits the right-wing incumbent against a left-wing former president
Brazilian upstream reaps divestment dividend
Petrobras is starting to see significant production gains in the pre-salt, while independents are already raising output at fields divested by the NOC
Petrobras' divestment programme has proved an abundant source of assets for many independent E&Ps
Brazil Petrobras
Charles Waine
31 May 2022
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Brazilian M&A activity heats up

As Petrobras starts to wind down its portfolio divestment, Brazil is entering a new era of upstream consolidation

The race to capture upstream Brazilian assets has been frantic over the past five months, with several independent portfolios transformed by M&A acquisitions. One of the main beneficiaries, Rio de Janeiro-based operator 3R Petroleum, has already almost doubled its reserves in 2022 with the acquisitions of the Potiguar and Reconcavo onshore clusters from Brazilian state-controlled oil and gas firm Petrobras. The NOC’s divestment programme has proved an abundant source of assets for many independent E&Ps. And activity has not been restricted to just small maturing fields. In late April, a subsidiary of Brazilian operator Petrorio agreed to pay $2bn for a 90pc interest in the Albacora L

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