Petrobras to take full ownership of biofuel logistics firm Logum from partners in $111M deal

Petrobras (PETR3) seeks government aid for gasoline price alignment but faces fiscal constraints. It is evaluating BP's offer for a stake in the Bumerangue block, with high CO2 levels posing challenges. Petrobras also acquired the remaining 70% of Logum for 620 million reais, securing full ownership of the biofuel logistics firm.

BP is in talks to sell a stake in its Bumerangue offshore oil discovery to Petrobras, which could bring together two major deepwater operators. The discovery, with 8 billion barrels of liquids in place, is BP's largest in 25 years but faces technical challenges due to high CO2 content. Petrobras is evaluating the proposal, but no agreement is guaranteed. BP aims to secure a partner to share costs before making a final investment decision.

Petrobras agreed to buy 70% of Logum Logística, an ethanol pipeline operator, for R$620 million (US$111 million). The deal, subject to antitrust approval, involves payments over three years. Logum operates pipelines in Brazil, connecting ethanol mills to distribution hubs and ports. Petrobras aims to integrate the pipelines into its logistics system, citing rising ethanol demand.

PETROBRAS - PETROLEO BRASILEIRO SA (PBR) furnished an SEC Form 6-K — earnings release. Yes _______ No___X____ FPSO Almirante Tamandaré Production record of 263 mbpd in July 2026FINANCIAL PERFORMANCE — 3Q262 Table of contentsTable of contentsHighlights - 3Q26 ................................................................................................. 4 Main ite

BP is in talks with Petrobras to sell a stake in the Bumerangue oil block off Brazil's coast, its largest discovery in 25 years. The block has about 8 billion barrels of liquids, but high CO2 levels pose challenges. BP aims to make a final investment decision by 2027. Petrobras, with deepwater expertise, is seeking new exploration opportunities.

Petrobras reported Q3 net income of R$39.75 billion, a 21.5% increase but below expectations. Shares fell 2.97% as the company updated production, capex, and cash-flow guidance, and announced R$15.3 billion in shareholder payments. Petrobras is also in talks with BP for a stake in the Bumerangue offshore oil block and made three oil discoveries at the Morpho well. The company expects to sign a deal with Yinson for a floating production vessel.