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Vol 65 No 2

Published 18th January 2024

Petrobras invests in oil sector

Following the signature of a memorandum of understanding (MoU) on joint business opportunities in the upstream with Shell in March 2023, on 27 December Brazil's state-controlled oil company Petrobras announced that through a competitive process conducted by Shell, it had acquired from the London-based oil major stakes of 45% each in blocks 10 and 13 and 25% interests in block 11 in the archipelago's Exclusive Economic Zone (EEZ).

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