Despite returning to a profit for the second quarter of the year, Petrobras dashed hopes of an extraordinary dividend for this year amid lower oil prices and higher investments into production expansion.
Earlier this year, a senior company executive told Reuters Petrobras was looking to buy interest in African oil fields to boost its reserves and was in talks with potential sellers, including Exxon, Shell, and TotalEnergies. Petrobras’s proven oil and gas reserves increased by 500 million barrels last year, from 10.9 billion barrels to 11.4 billion barrels.
Cheniere is planning further brownfield expansions in phases at both terminals, potentially increasing capacity to approximately 75 million tpy by the early 2030s. The company is following a capital allocation programme that calls for USD 20 billion in capital deployments by 2026.