Petrobras’ pre-salt focus pays off
Brazilian NOC’s commitment to the offshore province and portfolio overhaul is helping offset unstable commodity prices
Brazilian state-owned oil and gas company Petrobras is benefiting from its strategy of divesting non-core assets and prioritising crude production from the pre-salt region. The firm posted strong full-year financial results for 2019 despite global market volatility and the average price of the crude oil it sells falling 8.1pc year-on-year. Petrobras’ focus on improving ‘value generation’ across its portfolio helped lift net income to $10.2bn last year—a 41.5pc increase over 2018. Divestment of assets—which includes biofuel-focused distributor BR Distribuidora, the domestic TAG gas pipeline, mature offshore Brazilian fields, distribution assets in Paraguay and in the US a Pasadena refinery—ge
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
