The "law to simplify the environmental approval process" is known in Brazilian environmental circles as the "law of devastation". It was rushed through by the Chamber of Deputies in a night session before the congressional recess in mid-July.

President Luiz Inácio Lula da Silva has now vetoed parts of the law.

The reason for this withdrawal: Lula's left-wing government is afraid of offending the conservative Congress. More than two thirds of MPs had voted in favor of the law.

Environmentalists are up in arms against the law: they fear that simplified approval procedures will lead to greater climate risks and environmental damage, opening the door to one of Brazil's most controversial investment projects.

This is because Brazil also has high hopes for the oil deposits that are believed to be under the seabed of the Atlantic Ocean at the mouth of the Amazon off the north coast of Brazil. Neighboring Guyana is in the process of becoming one of the new global oil giants due to the oil produced there. From a geological point of view, there is much to suggest that the deposits extend into Brazil's sovereign territory.

The Organization of the Petroleum Exporting Countries (Opec) expects Brazil to increase its oil and gas production from the current 4.2 million to 5.8 million barrels per day by 2030. After the USA, this would make Brazil one of the countries that could increase its fossil fuel production the most over the next five years. Brazil currently ranks 8th among the world's largest oil producers; it could rise to 4th place by 2030.

However, the credibility of Brazil's climate policy is at stake with the potential oil production. Brazil has committed to significantly reducing its greenhouse gas emissions as part of the Paris Agreement. An expansion of oil production contradicts these goals.

Politically, however, it looks like the proponents will be successful. They have a strong lobby in Congress, in the cabinet, among the trade unions and in the federal states in the north of Brazil. President Lula is also in favor of the project: he would rather offer poor Brazilians jobs, education and health care financed by oil revenues than do without them in order to protect the environment. International environmental prizes do not win elections in Brazil, but social programs and electoral aid from the oil industry do.

With the decree for accelerated special procedures, a victory for the oil lobby seems likely. The majority of Congress is in favor of oil production. Elections are due next year. Lula can hardly afford to alienate his remaining allies in the north and north-east with an environmental policy with which he himself hardly identifies. A conservative successor would probably remove obstacles to oil production immediately.

$PBR (+0.49%)
$PETR3 (+0.78%)
$PETR4 (-0.29%)

Source: Text (excerpt) & image: Handelsblatt, 13.08.25

$TRMD A (+2.59%) , $PETR4 (-0.29%) and $HAUTO (+0.14%)

Good morning!

@Dividendenopi What is your (your) plan for the three with regard to the upcoming quarterly figures? I read that some want to get out beforehand, despite upcoming dividends? Have I missed something?

Petrobras $PETR3 (+0.78%)
$PETR4 (-0.29%) increased its oil, condensate (NGL) and natural gas production in Brazil by 8.1% year-on-year in the second quarter, reaching 2.879 million barrels of oil equivalent per day (boe/d). According to a production report published on Tuesday (29th), oil and NGL production totaled 2.320 million barrels per day, an increase of 7.6% compared to the second quarter of 2024. Natural gas production increased by 10% to 559,000 boe/d.

One of the highlights of the quarter was a 229.7% increase in diesel imports to 122,000 barrels per day. Petrobras explained in its report that the increase was due to the company's preparations for a period of higher demand.

Meanwhile, oil exports rose by six percent to 690,000 barrels per day in the quarter. Oil remains Brazil's most important export - and could be hit with a 50 percent tariff by the US from Friday, August 1. Petrobras said exports to the US accounted for eight percent of international oil sales, while China took the lion's share at 54 percent.

According to Petrobras, the increase in oil and gas production is mainly due to the gradual commissioning of the Almirante Tamandaré and Maria Quitéria floating production, storage and offloading facilities. The production increases were also supported by the achievement of peak production at the FPSO Alexandre de Gusmão. All three platforms operate in the pre-salt layer of the Santos basin.

The company also brought 14 new production wells on stream in the second quarter - seven in the Campos Basin and seven in the Santos Basin. "On the other hand, there were also higher production losses in the second quarter due to shutdowns and maintenance work, as well as a natural decline," Petrobras said. Refinery capacity utilization reached 91% in the second quarter, an increase of one percentage point compared to the first quarter and unchanged from the previous year.

Sales of refined products in Brazil increased by 0.8% year-on-year to 1.714 million barrels per day in the second quarter. Gasoline sales increased by 3.1% compared to the same period last year and by 1.5% compared to the first quarter, driven by increased overall demand for gasoline and a shift from ethanol to gasoline, particularly in flex-fuel vehicles.

Petrobras reported a 0.6% decline in diesel sales in Brazil in the second quarter compared to the same period last year and a 1.8% decline compared to the previous quarter. The company attributed the decline to increased imports from third countries - primarily from Russia - and lower demand from the agricultural sector.

Source: valorinternational.globo.com

$PETR4 (-0.29%) just under 5 euros again. I wish I had some spare cash. ⛽️

$PETR3 (-0.29%)

---

📢 Petrobras appoints new Director of Energy Transition and Sustainability

📅 July 11, 2025 - Rio de Janeiro

The Petrobras Board of Directors has elected Angélica Garcia Cobas Laureano as the new Director of Energy Transition and Sustainability. Her term of office runs until April 2027.

Angélica has 45 years of professional experience, including 37 years at Petrobras, many of them in management positions. Most recently, she was President of the pipeline operator Gasoduto Bolívia-Brasil.

With her election, the Petrobras Board of Directors now has a majority of women for the first time (5 women, 4 men) - a historic step for the company and a strong signal in the oil and gas industry

$OXY (+1.21%)
$OD7F
$OOEA
$XOM (+1.01%)
$BRNT (+1.39%)
$SLB (+1.66%)
$COP (+0.18%)
$WENS (+0.91%)
$EXH1 (+0.74%)
$SHEL (+1.06%)
$PETR4 (-0.29%)

The tensions will be resolved quickly. High oil prices harm American consumers. Trump wants to prevent that. He also wants to conclude an agreement with China. China imports a lot of oil from Iran, which will hurt them. The same applies to India, with which Trump also wants to conclude an agreement.

Trump is pro-Israel and wants to help Israel achieve its military goals. However, he will not give Israel much time to do so. It will either be over as quickly as the Six-Day War or after two weeks at the latest, enforced by Trump.

The Brazilian oil and gas company Petrobras $PETR3 (+0.78%)
$PETR4 (-0.29%) has submitted a declaration of interest for nine exploration blocks in the offshore areas of Côte d'Ivoire, namely blocks CI 513, CI 600, CI 601, CI 602, CI 603, CI 605, CI 700, CI 701 and CI 702.

This expression of interest secures exclusivity in the contract negotiation phase and is the first phase in the acquisition process for exploration areas in the country before contract negotiations for the exploration blocks begin.

The government of Côte d'Ivoire plans to more than triple the country's oil production between 2024 and 2027, as production is expected to increase from around 60 kb/d to around 200 kb/d by 2027. Hydrocarbon production will be boosted by recent oil and gas discoveries in the Ivorian offshore fields of Baleine and Calao. The government also expects more than USD 15 billion to be invested in the Ivorian oil sector in the coming years.

I got back in today. Despite all the political concerns and risks, this is a company with good plans for the future. And of course an even better dividend. Together with the covered call from part 1, the first milestone in terms of dividends has thus been reached and an expected annual gross dividend of € 30,000 is already the basic salary.

And another advantage, the good @SAUgut77 takes more work off my hands to post company news. 😁😇😜

Hello, a quick question for the experts, such as @SAUgut77 regarding the dividend of $PETR4 (-0.29%)

The payment date was 20.05.25. However, I have not yet received the dividend. Since I don't have any reference values for Brazilian dividends, is the delay relatively normal, or have you already received it?

Thank you very much for your help and have a nice trading day ;)

A decision by the Brazilian environmental authority Ibama allows the state-owned oil company Petrobras $PETR3 (+0.78%)
$PETR4 (-0.29%) to take another step towards drilling for oil in a coveted offshore region, albeit with a significant caveat for future permits in the area.

Documents seen by Reuters show that IBAMA chief Rodrigo Agostinho warned in his decision against an "uncontrolled multiplication of future applications for environmental licenses" in the Foz do Amazonas basin, an oil production area near the mouth of the Amazon River.

The area in the northernmost part of Brazil's equatorial zone is considered the most promising oil production area for Petrobras, as it has geological similarities with nearby Guyana, where Exxon Mobil is developing huge fields.

However, Agostinho said it would be difficult to issue exploration licenses "piecemeal and sequentially" in the Foz do Amazonas basin without a complex environmental study (AAAS), which could take years to complete.

IBAMA had previously requested an AAAS to evaluate Petrobras' bid, but Brazil's attorney general issued a legal opinion stating that such an assessment should not prevent the granting of licenses.

Agostinho's new request adds to the uncertainty over future licenses in the region as Brazil prepares to auction new blocks in June.

For now, the head of the agency has approved a proposal from Petrobras on how to help local wildlife in the event of an oil spill in this ecologically sensitive region, which includes extensive coral reefs and indigenous coastal communities.

Petrobras welcomed the decision on Monday, calling it a green light to test its environmental contingency plan, which the company described as the last step before the final decision on whether to grant the license.

The breakthrough for Petrobras is a loss for IBAMA's technical staff, who had signed a document in February stating that the plan to save wildlife in the event of an oil spill had only a "slight chance" of success.

In 2023, IBAMA rejected an application from Petrobras to drill in the area, which the company immediately appealed, further exacerbating divisions in the Brazilian government between environmentalists and allies pushing for oil and gas development in the region.