Brazil's Petrobras acquires stakes in 3 exploration blocks in Africa - Nasdaq
Brazil's Petrobras acquires stakes in 3 exploration blocks in Africa | Nasdaq
SAO PAULO, Dec 27 (Reuters) - Brazilian state-run oil company Petrobras PETR4.SA said on Wednesday its board had approved the acquisition of stakes in three oil exploration blocks operated by Shell SHEL.L in Sao Tome and Principe, marking its return to oil exploration in Africa.
Petrobras will own a 45% stake in blocks 10 and 13, and a 25% stake in block 11.
(Reporting by Peter Frontini; Editing by Kylie Madry)
(( Peter.Siqueira@thomsonreuters.com; +55 11 56447727;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”