Petrobras welcomes new Brazilian oil and gas legislation


https://www.tipranks.com/news/company-announcements/petrobras-welcomes-new-brazilian-oil-and-gas-legislation

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 surplus local content between contracts and allowing the extension of production sharing agreements in advantageous conditions for the Brazilian Federal Union. The legislation also includes measures to incentivize local investment through royalty reductions and accelerated depreciation for specific marine vessels. Petrobras sees this legal development as an important milestone, as it anticipates that it will benefit the domestic industry and attract new investments.

More information 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 oil and its derivatives. It plays an important 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 Sentiment Consensus Rating: to sell

Current market capitalization: 79.29 million dollars

For detailed information on PBR actions, go to TipRanks stock analysis page.



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