An announcement from Petroleo Brasileiro SA- Petrobras ( (PBR) ) is now available.
Petrobras announced the enactment of a new Brazilian law, Law 15,075/2024, which restructures the oil and gas sector by allowing the transfer of local content surpluses among contracts and allowing for the extension of Production Sharing Agreements under advantageous conditions to the Brazilian Federal Union. The legislation also includes measures to encourage local investments by reducing royalties and faster depreciation for certain marine vessels. Petrobras considers this legal development as a significant milestone, anticipating that it will benefit the national industry and attract new investments.
More about Petroleo Brasileiro SA- Petrobras
Petrobras is a Brazilian multinational corporation in the oil and gas industry, focused on the exploration, production, refining and transportation of petroleum and its derivatives. It plays a significant role in Brazil's energy sector and is a major player in global oil markets.
YTD Price Performance: -4.52%
Average Trading Volume: 14,744,343
Technical Opinion Consensus Rating: Selling
Current market cap: $79.29B
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