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.

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

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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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Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Four times faster than the Concorde, capable of taking passengers from New York to London in less than an hour at Mach 5.5, and with an engine that switches from turbojet to ramjet mid-flight at Mach 3.5, the Hermeus Quarterhorse went from paper to its first flight in just 19 months.

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She started by collecting oyster shells from restaurants and today she has already accumulated more than 10 tons to restore reefs, recover coastal habitats, and demonstrate how a common waste can become a tool for ocean conservation.

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