Petrobras Halts Divestment of Uruguá and Tambaú Fields

An update from Petroleo Brasileiro SA- Petrobras ( (PBR) ) is now available.

Petrobras announced the termination of its divestment contract for the Uruguá and Tambaú fields due to the failure of Enauta Energia S.A. to complete the purchase of the FPSO Cidade de Santos. As a result, Petrobras will retain its 100% stake in these fields and is considering future alternatives for managing these assets, highlighting its commitment to optimizing its operational portfolio.

More about Petroleo Brasileiro SA- Petrobras

Petrobras, officially known as Petróleo Brasileiro S.A., is a major Brazilian energy corporation primarily involved in the exploration, production, refining, and distribution of oil and gas. As a key player in the global energy market, Petrobras focuses on the development of offshore assets, particularly in the pre-salt region of Brazil, and is one of the largest producers of oil and gas in the world.

YTD Price Performance: -4.87%

Average Trading Volume: 14,987,753

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $81.76B

For an in-depth examination of PBR stock, go to TipRanks’ Stock Analysis page.