Petrobras Achieves Major Oil Production Milestone at Tupi Field [Yahoo! Finance]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
According to Reuters, as cited in the Baird Maritime article, PBR has successfully reached an impressive 1 million barrels of oil per day (“bpd”) from its offshore Tupi field since Friday — a major development for Brazil's oil sector also. This achievement comes as a result of meticulous planning and investments aimed at boosting production in the Tupi field, which was once the largest oil-producing field in the country. The Tupi field, situated in the pre-salt Santos Basin off the coast of Rio de Janeiro, has long been a symbol of Brazil's oil potential. However, over the years, production significantly declined. Petrobras, under the leadership of CEO Magda Chambriard, has focused efforts on revitalizing this critical field. This bold initiative is a testament to the company's resolve to maintain its status as a key player in the global oil industry. Chambriard, who assumed the role of CEO in 2024, has been instrumental in spearheading this rejuvenation. Her mantra, "every drop m
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