Petrobras Highlights Inflation Impact on Suppliers and Reduces Investment for 2023.

Written by Paulo Nogueira

Published on 10/11/2023 at 09:05

FPSO P-69 operando na Bacia de Santos | fonte: Petrobras

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In Turn, the Company Raised Its Production Forecast for Oil and Gas for 2023.

Petrobras announced today the upward revision of its oil and gas production target for 2023. On the other hand, the investment forecast was reduced from US$ 16 billion to US$ 13 billion, still representing a 30% increase compared to 2022.

This reduction in investments is explained by the state-owned company as a reflection of lower spending on exploration and production, which were reduced from US$ 13.3 billion to US$ 11.2 billion. The company mentions the challenging scenario faced by suppliers in the post-pandemic inflationary context, influencing the ability to meet the growing demand for critical resources for the oil and gas industry.

Petrobras Postpones Bidding for Platforms of the Sergipe Deep Water Project to 2024

Petrobras recently announced the postponement of the bidding for platforms of the Sergipe Deep Water project to 2024. This occurred amid a reduction in investments, but the company assured that the production target was not compromised.

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With the revision of the forecasts, Petrobras expects to achieve a production of 2.8 million barrels per day of oil equivalent (boe/day) in 2023, surpassing the previous forecast of 2.6 million boe/day. The commercial production target has also been adjusted from 2.3 million to 2.4 million boe/day, and the production of oil and natural gas liquids (NGL) from 2.1 million to 2.2 million barrels/day.

Source: EPBR Agency

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Petrobras Highlights Inflation Impact on Suppliers and Reduces Investment for 2023.

In Turn, the Company Raised Its Production Forecast for Oil and Gas for 2023.

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Petrobras Highlights Inflation Impact on Suppliers and Reduces Investment for 2023.

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Almost 6,000 residents live concentrated along a single street nearly 9 km long in the interior of Poland. Houses form a continuous row, and behind them, narrow agricultural strips emerge, creating one of the most unusual rural patterns in Europe.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

They planted a sea of eucalyptus to produce cellulose, but the monoculture turned into a green desert, dried up springs and rivers, and pushed families out of regions in Minas Gerais and Bahia.

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Hidden beneath a small entrance in Namibia’s underground, the largest underground lake in the world is the size of 2 football fields, 264 meters deep, and even has rare animals that survive without sunlight.

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