3R Petroleum May Be the Successor to Petrobras in the Oil Fields from Which Petrobras Divested
With the goal of expanding its operations and perhaps even being the next successor to Petrobras, 3R Petroleum claims it has a strong interest in revitalizing the oil fields that were divested by market leader Petrobras earlier.
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CEO of 3R Petroleum States Interest in Taking Over Petrobras’ Position
At an oil and gas event, one journalist asked the CEO of 3R Petroleum about his objectives for Latin America, to which he quickly responded: Humble as it may be, our greatest interest is to be the successor of Petrobras in those oil fields where divestments have been made; I see a great opportunity in this space.
Petrobras’ Divestment Process
In the 2020-2024 business plan released last week, Petrobras stated it would seek to sell US$ 20 billion to US$ 30 billion in assets during this period, including eight refineries located across Brazil.
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The 12% export tax on Brazilian oil reignites the debate on regulatory risk, competitiveness, and impact on the trade balance.
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Rio could lose up to R$ 21 billion per year due to the STF’s decision on oil royalties, and the impact could affect the economy, tourism, and services.
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The rise in oil prices puts Brazil in a strategic advantage and projects a trade surplus of US$ 90 billion, boosting exports and creating a highly favorable and unexpected economic scenario.
In a separate presentation on Wednesday, released during Petrobras’ Investor Day in New York, the company indicated that it may include its Bolivian assets in the divestment program, as well as its stake in petrochemical company Braskem SA, legacy deepwater oil fields, and its remaining interest in fuel Distributor, Petrobras Distribuidora SA, better known as BR Distribuidora.
About 3R Petroleum
3R Petroleum is an independent oil company focused on redeveloping mature oil fields. “Re-develop, Revitalize and Rethink” are the verbs that guide the company and gave rise to the name 3R Petroleum.
The company specializes in rethinking oil and gas field development strategies through the implementation of investments in technologies and projects in mature oil fields.


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