MercoPress, en Español

Montevideo, February 23rd 2018 - 04:50 UTC

Tag: Pedro Parente Petrobras CEO

  • Friday, November 17th 2017 - 08:03 UTC

    Petrobras counts on pre-salt production to compete with a boom in US shale output

    Parente said it is crucial to be a low-cost producer as a boom in U.S. shale output is upending the oil market and as societies look to lower carbon emissions

    Brazil's low-cost oil will help Petrobras compete in a tough market as it seeks to turn around its business, Pedro Parente, CEO of the state-owned oil giant anticipated. Oil majors such as Exxon, Mobil, BO, Royal Dutch Shell, Total and Statoil have been snapping up blocks in the Atlantic Ocean off the coast of Brazil that hold crude under thousands of meters of salt.