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'Petrobras has an obligation to sit at the table with Brazil's bureau of federal revenue and the finance ministry and consider all the possibilities to honor its tax commitments'.

Brazil's central bank said much of the impact of its “intense and timely” cycle of interest rate hikes is still to come even as it left the door open to smaller borrowing cost increases amid a tough inflation outlook.

President Luiz Inacio Lula da Silva's government is moving toward allowing Brazil's state-run oil company to survey an ecologically sensitive offshore region.

3R Petroleum Oleo e Gas SA agreed to acquire Enauta Participacoes SA in an all-stock deal.

Lula reportedly plans to nominate the former head of Brazil's oil and gas regulator to be Petrobras' new CEO.

Talks are underway involving Argentina, Bolivia and Paraguay, exploring several routes for importing Vaca Muerta gas.

Brazil will start the process of joining the OPEC+ alliance this January.

Enauta will acquire the Parque das Conchas stake for $150 million.

With Petrobras divesting many of its mature assets, new mid-cap upstream operators entering the Brazilian market will invest $10B over the next decade.

'This morning Brent crude is trading just above the 80-line', Bjarne Schieldrop, the Chief Commodities Analyst at Skandinaviska Enskilda Banken AB, said in a report sent to Rigzone.