13:45 - 26.08.2025

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August 26, Fineko/abc.az. Brazilian Petrobras plans to ramp up production at its largest field, Buzios. According to ABC.AZ, this was announced by the company’s CEO, Magda Chambriard. She said this ensures a significant cash flow, even in the event of a considerable decline in oil prices.

According to her forecast, oil prices will remain at about the current level or slightly decrease next year.

She also expressed doubts about forecasts predicting a price increase in 2027, calling them inaccurate. Nevertheless, she noted that even Petrobras’ less profitable projects remain viable if oil prices are above $45 per barrel, so there is no reason to curb production. The CEO added that two new floating production units are expected, which will allow output at the Buzios field to exceed 1 million b/d. One unit is already on its way to Brazil, and the second will depart South Korea in October.