Core Viewpoint - The China-Brazil Technology Innovation Center has been officially launched in Rio de Janeiro, focusing on energy cooperation driven by technological innovation [1] Group 1: Center Establishment - The center is established by a collaboration between China National Offshore Oil Corporation, China University of Petroleum (Beijing), Brazil's National Oil Company, and the Federal University of Rio de Janeiro [1] - The center aims to bridge technology exchange and result sharing between researchers from both countries [1] Group 2: Objectives and Benefits - The center will focus on cutting-edge technology research and results transformation in the energy sector [1] - It is expected to enhance industrial competitiveness by converting the research advantages of both countries into practical applications [1] - The collaboration is seen as a new engine for comprehensive cooperation and high-quality development in the energy sector between China and Brazil [1]

Core Insights - Petrobras workers have announced a nationwide strike starting December 15, citing the company's latest labor agreement counteroffer as "disrespectful" [1] - The company has experienced a strong operational year in 2025, achieving record production levels [2][3] - Petrobras has adjusted its capital expenditure plans, reducing 2025 capex estimates and increasing investments for 2024-2028 [4] Group 1: Labor Relations - Workers at Petrobras are demanding changes to the employee compensation structure due to concerns over the retirement fund deficit [1] - Despite the announced strike, sources indicate that contingencies are in place, suggesting minimal impact on operations or production [1] Group 2: Operational Performance - Petrobras reported third quarter adjusted EBITDA of nearly $12 billion and net income of around $6 billion, supported by record oil and gas production of 3.14 million barrels of oil equivalent per day, reflecting a 17% year-over-year increase [3] - The company's production growth is attributed to new pre-salt platforms, including FPSO Almirante Tamandaré and Alexandre de Gusmão [2] Group 3: Capital Expenditure and Strategic Planning - Petrobras reduced its capital expenditure for 2025 to $17 billion from an earlier estimate of $21 billion, aligning with its financial capabilities [4] - The company plans to invest $102 billion in the 2024-2028 period, marking a 31% increase over previous plans, in response to government pressure to boost investments for economic growth and job creation [4] Group 4: Industry Outlook - Wood Mackenzie forecasts that Brazil's private oil companies will increase oil production by 75% by 2030, with international oil companies partnering with Petrobras in pre-salt and developing fields [5]

Core Viewpoint - Workers at Brazil's state-run oil company Petrobras are set to initiate a strike on Monday, as announced by their union in a statement on Wednesday [1] Company Summary - The strike involves employees of Petrobras, indicating potential disruptions in operations and production [1] - The announcement from the union highlights ongoing labor tensions within the company, which may affect its performance and market perception [1] Industry Summary - The strike at Petrobras reflects broader labor issues within the oil and gas sector in Brazil, which could impact supply chains and market stability [1] - Such labor actions may lead to increased scrutiny on state-run enterprises and their operational efficiency in the face of labor disputes [1]

人民网里约热内卢12月8日电 (记者陈一鸣)当地时间12月8日，旨在推动能源绿色低碳转型与数字化发展 的中国—巴西科技创新中心在巴西里约热内卢联邦大学科技园正式启动。 当地时间12月8日，中国—巴西科技创新中心实体化运营启动仪式在巴西里约热内卢联邦大学科技园举 行。图为活动在热闹喜庆的舞狮表演中拉开帷幕。陈妤汎摄 在当天上午举行的中心实体化运营启动仪式上，中国驻里约热内卢总领事田敏致辞说，在两国元首战略 引领下，中巴关系处于历史最好时期，双方正进入发展战略对接和共建中巴命运共同体的新阶段。共建 中巴科技创新中心是落实习近平主席2024年对巴西国事访问成果的重要项目，希望中心发挥人才培养新 平台、创新成果策源地、产业升级助推器作用，形成一批具有示范性和影响力的合作成果，为两国能源 转型和产业升级注入新动力。 国驻里约热内卢总领事田敏在中国—巴西科技创新中心实体化运营启动仪式上致辞。陈妤汎摄 据介绍，中巴科技创新中心以"科技创新驱动能源合作"为定位，聚焦能源领域前沿技术研发与成果转 化，由中国海洋石油集团有限公司、中国石油大学(北京)、巴西国家石油公司和巴西里约热内卢联邦大 学四方联合共建。 在仪式上，中国海洋石 ...

This Week’s Deep-Value LandscapeEnergy and Financials once again dominate the upper tier of this week’s Acquirer’s Multiple® Large Cap Screen, reinforcing a now-familiar pattern: the market continues to discount highly cash-generative cyclical businesses despite leaner balance sheets, disciplined capital allocation, and structurally improved economics.Energy Still Sets the Pace in Deep ValueEquinor (EQNR) retains the No. 1 ranking with an Acquirer’s Multiple of 2.3 and a 11.9% free cash flow yield. Integrat ...

Core Viewpoint - The China-Brazil Technology Innovation Center has been officially registered and launched its operational ceremony in Rio de Janeiro, Brazil, marking a significant step in bilateral cooperation in technology and innovation [1] Group 1 - The center is jointly established by China National Offshore Oil Corporation, Petrobras (Brazilian National Oil Company), China University of Petroleum (Beijing), and Federal University of Rio de Janeiro [1] - The establishment of the center is aligned with the simultaneous launch of the China-Brazil Excellence Engineer Academy, indicating a focus on educational and technological collaboration [1]

来源：自然资源部 据BNAmericas网站报道，巴西石油管理局（ANP）的数据显示，10月份该国石油产量首次超过400万桶/ 日。 布齐奥斯油气与其他油田的距离似乎在加大，未来几年将有6艘新的浮式生产储油船（FPSOs），包括 P-78、P-79、P-80、P-82 、 P-83和布齐奥斯12）将投入运营。 阿塔普和塞皮亚也将分别有一个新的平台（P-84和P-85），Petrobras正在研究在图皮部署一个新平台， 在梅罗也将另外部署一个。 巴西能源咨询公司（Empresa de Pesquisa Energética，EPE）预测，2031年巴西石油产量将达到530万桶/ 日的高峰，同年天然气产量达到3.16亿立方米/日。 但是如果取得新的重大发现，这个预期可能会改变。 油气总产量为525万桶油当量/日，环比增长2.7%，同比增长23%。今年7月份，巴西月度油气产量首次 超过500万桶/日。 盐下油气产量占巴西总产量的81.4%，共计为428万桶油当量/日（石油331万桶/日，天然气1.537亿立方 米/日）。 在巴西的五大生产商为：巴西国家石油公司（Petrobras），产量为327万桶油当量/日；其次 ...

俞进表示，在全球能源转型加速背景下，中心不仅以推进中巴能源领域全方位合作为宗旨，更以推动绿 色低碳发展为目标，重点探索传统能源清洁开发、可再生能源高效利用等关键技术路径。 巴西坐拥全球最大深水盐下油田群，风能、太阳能等可再生能源潜力巨大；中国则在能源开发技术与绿 色装备制造领域具备优势，中国海油已通过布济乌斯五期项目实现深水开发技术落地，成为巴西首家实 现非股东自主销售天然气的外国石油公司，跻身当地主要天然气供应商行列。中巴科创中心的落地，将 进一步搭建技术交流与成果共享桥梁，助力双方突破深海油气绿色开发、光伏风电技术应用等领域瓶 颈。 中国海油巴西公司总经理黄业华表示，中巴科创中心将持续深化能源领域科技协同与产业合作，推动深 水油气开发数智化转型与绿色低碳转型等领域关键核心技术攻关。 中国驻里约总领事田敏表示，共建中国—巴西科技创新中心是落实习近平主席2024年对巴西国事访问成 果的重要项目，希望科技创新中心发挥好人才合作新平台、创新成果策源地、产业升级助推器的作用， 形成一批具有示范性和影响力的合作成果，更好助力两国能源转型和产业升级。 中国海油集团董事长张传江表示，中巴科创中心的实体化运营将进一步加快中 ...

Core Insights - Petrobras has announced a delay in the commissioning of its new urea plant in Bahia, Brazil, from 2027 to 2029, which is a key strategic project for enhancing Brazil's fertilizer self-sufficiency and reducing agricultural dependence on imports [1] Group 1: Project Details - The new urea plant is designed to have an annual production capacity of 1.3 million tons, making it a significant contributor to Brazil's agricultural sector [1] - The total investment for the project is expected to rise to approximately $2.8 billion due to the delays and necessary optimizations [1] Group 2: Reasons for Delay - The delay is attributed to multiple complex factors, including stricter environmental permitting requirements and ongoing global supply chain challenges affecting the delivery timelines of critical equipment [1] - Petrobras has decided to optimize certain engineering aspects of the project to ensure technological advancement and long-term competitiveness, which also requires additional time [1] Group 3: Market Implications - As a result of the delay, Brazil will continue to rely on high levels of urea imports in the coming years, which may lead to increased agricultural input costs influenced by international market price fluctuations [1] - When the plant is operational in 2029, it will face a new market supply-demand landscape, as several other urea production projects are currently under construction globally [1]

Key Takeaways Shell and Petrobras increased their stakes in Brazil's Atapu and Mero fields through a new PPSA bid.SHEL's added acreage supports its plan to sustain 1.4M barrels per day of liquids output.PBR's expanded interest aligns with its 2026-2030 plan focused on high-return pre-salt assets.A consortium of Shell plc (SHEL) and Petróleo Brasileiro S.A. - Petrobras (PBR) recently announced the expansion of stakes in Brazil’s pre-salt region that continues to be a strategic growth engine for both companie ...