While Brazil s Energy Minister Adolfo Sachsida appeared Tuesday before the Lower House to answer questions about the current situation regarding the state-owned oil company Petrobras, the Government of President Jair Bolsonaro is concocting other strategies to curb the neverending increases in the price of fuel.
After barely 40 days on the job, José Mauro Coelho resigned as CEO of Brazil s state-run oil company Petrobras due to pressure from President Jair Bolsonaro and other politicians over a recent increase in the price of fuel, which drives inflation upwards ahead of the Oct. 2 elections. Bolsonaro had dubbed the price hike a “betrayal” of the Brazilian people.
Brazilian President Jair Bolsonaro Friday said the state-run oil company Petrobras profits were “irrational” in the current global scenario following a 14% increase in the price of diesel fuel and 5% in naphtha.
- Petrobras expands investments to $68 euro-petrole.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euro-petrole.com Daily Mail and Mail on Sunday newspapers.
Brazil: Petrobras signs Sepia and Atapu surplus Agreement
12 Apr 2021
Petrobras has signed an Agreement with the Federal Government, which establishes the stakes in each contract and the amount of compensation to Petrobras in the event of a bid for the
Transfer of Rights´ surplus volumes in the fields of Sépia and Atapu.
The Transfer of Rights Agreement, signed in 2010 between Petrobras and the Federal Government, included the exercise of exploration and production activities in the areas of Sépia and Atapu, with production volumes limited to 500 million barrels of oil equivalent (boe) in Sépia and 550 million boe in Atapu.