Petrobras, a leading Brazilian oil company, has partnered with Shell to commence oil exploration within São Tomé and Príncipe’s Exclusive Economic Zone (EEZ). The partnership signifies a crucial step for São Tomé and Príncipe, indicating progress towards discovering profitable oil reserves. The agreement sees Petrobras taking a 45% interest in blocks 10 and 13, and […]
Related Posts
Bolivia’s Arce Calls for Military Backing Against ‘Soft Coup Plans’
Under President Luis Arce, Bolivia’s crisis deepens, prompting him to seek military support on May 27 to counter a purported “soft coup” during economic struggles. Addressing the Colorados regiment, his guard unit, he cited worsening economic challenges. Roadblocks and protests by heavy transport workers and informal traders are forthcoming. They demand improved access to dollars […]
Political Pressure Forces Petrobras CEO Prates Out
On Tuesday evening, Petrobras (PETR4) announced that CEO Jean Paul Prates requested an early termination of his tenure. Prates, appointed by President Luiz Inácio Lula da Silva in January 2023, will step down as a board member once the termination is approved. Weeks of pressure from Lula’s administration led to his resignation. Debates over the […]