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Petrobras (PBR), Equinor Partner for Offshore Wind in Brazil
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Petrobras S.A. (PBR - Free Report) , a Brazilian state-owned oil and gas company, collaborated with Equinor (EQNR - Free Report) , a Norwegian multi-national energy company, on developing offshore wind energy projects in Brazil. The joint exploration and development of wind energy will take place in Brazil's offshore waters, specifically on the coasts of Piauí, Ceará and Rio Grande do Sul, which are favorable for renewable energy development. The agreement will be effective until 2028.
Petrobras and Equinor's partnership, which began in 2018 with two planned wind farms — Aracatu I and II, has grown beyond initial expectations. Petrobras's extensive experience in offshore oil and gas exploration and production has allowed it to build a large portfolio of offshore platforms and infrastructure. This infrastructure can be repurposed for offshore wind energy projects, providing efficient and cost-effective deployment of wind turbines.
As part of the new agreement, an assessment will be conducted on the viability of five additional wind farm projects — Mangara, Ibitucatu, Colibri, Atobá and Ibituassu. These projects have the potential to generate up to 14.5 GW and will be studied for their technical, economic and environmental feasibility.
The main project in the partnership is the construction of an offshore wind farm, off the coast of Rio de Janeiro. Equinor will be the operator of the wind farm, while Petrobras will provide the logistical support and supply vessels for the project. The two companies have agreed to work on other offshore wind projects to increase Brazil's renewable energy capacity.
Petrobras aims to diversify its energy portfolio and reduce reliance on fossil fuels. The partnership with Equinor is part of its strategy to achieve a net-zero carbon emissions target by 2050. Equinor has already established a strong presence in Brazil's offshore wind market by winning a significant share of the country's first offshore wind auction in 2021. It has also worked with local partners to develop wind projects in the country, including the Apodi Solar plant, operated by Scatec, which began production in 2018.
The agreement between Petrobras and Equinor is a milestone in the advancement of Brazil's offshore wind industry. It highlights the potential for collaboration between international and local companies in developing renewable energy projects in the country. Offshore wind is an important source of renewable energy that can help reduce carbon emissions and mitigate the effects of climate change. Brazil has the potential to become a major player in this industry, and the partnership is a positive step toward achieving this goal.
Petrobras S.A., headquartered in Rio de Janeiro, is the largest integrated energy company in Brazil and one of the largest in Latin America. It engages in activities such as oil exploration, exploitation, refining, processing, trading and transportation, natural gas and other fluid hydrocarbons, and other energy-related activities.
Zacks Rank and Key Picks
Currently, Petrobras carries a Zacks Rank #3 (Hold). Investors interested in the energy sector might also look at some better-ranked stocks like NGL Energy Partners (NGL - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and Energy Transfer (ET - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NGL Energy Partners: NGL Energy Partners is worth approximately $509.53 million. Its shares have increased 48.8% in the past year.
NGL Energy Partners LP is a limited partnership company that operates a vertically-integrated propane business with three segments — retail propane, wholesale supply and marketing, and midstream.
NGL Energy Partners is worth $509.53 million. Its shares have gained 48.8% in the past year.
NGL Energy Partners is a limited partnership company that operates a vertically-integrated propane business with three segments — retail propane, wholesale supply and marketing, and midstream.
NGL Energy Partners: NGL Energy Partners is worth approximately $509.53 million. Its shares have increased 48.8% in the past year.
NGL Energy Partners LP is a limited partnership company that operates a vertically-integrated propane business with three segments — retail propane, wholesale supply and marketing, and midstream.
NGL Energy Partners: NGL Energy Partners is worth approximately $509.53 million. Its shares have increased 48.8% in the past year.
NGL Energy Partners LP is a limited partnership company that operates a vertically-integrated propane business with three segments — retail propane, wholesale supply and marketing, and midstream.
NGL Energy Partners: NGL Energy Partners is worth approximately $509.53 million. Its shares have increased 48.8% in the past year.
NGL Energy Partners LP is a limited partnership company that operates a vertically-integrated propane business with three segments — retail propane, wholesale supply and marketing, and midstream.
Energy Transfer LP: Energy Transfer LP is valued at around $40.85 billion. ET delivered an average earnings surprise of 11.43% for the last four quarters, and its current dividend yield is 9.48%.
Energy Transfer LP currently has a forward P/E ratio of 9.17. In comparison, its industry has an average forward P/E of 9.40, which means Energy Transfer LP is trading at a discount to the group.
Energy Transfer is valued at $40.85 billion. ET delivered an average earnings surprise of 11.43% for the last four quarters, and its current dividend yield is 9.48%.
Energy Transfer currently has a forward P/E ratio of 9.17. In comparison, its industry has an average forward P/E of 9.40, which means, Energy Transfer is trading at a discount to the group.
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Petrobras (PBR), Equinor Partner for Offshore Wind in Brazil
Petrobras S.A. (PBR - Free Report) , a Brazilian state-owned oil and gas company, collaborated with Equinor (EQNR - Free Report) , a Norwegian multi-national energy company, on developing offshore wind energy projects in Brazil. The joint exploration and development of wind energy will take place in Brazil's offshore waters, specifically on the coasts of Piauí, Ceará and Rio Grande do Sul, which are favorable for renewable energy development. The agreement will be effective until 2028.
Petrobras and Equinor's partnership, which began in 2018 with two planned wind farms — Aracatu I and II, has grown beyond initial expectations. Petrobras's extensive experience in offshore oil and gas exploration and production has allowed it to build a large portfolio of offshore platforms and infrastructure. This infrastructure can be repurposed for offshore wind energy projects, providing efficient and cost-effective deployment of wind turbines.
As part of the new agreement, an assessment will be conducted on the viability of five additional wind farm projects — Mangara, Ibitucatu, Colibri, Atobá and Ibituassu. These projects have the potential to generate up to 14.5 GW and will be studied for their technical, economic and environmental feasibility.
The main project in the partnership is the construction of an offshore wind farm, off the coast of Rio de Janeiro. Equinor will be the operator of the wind farm, while Petrobras will provide the logistical support and supply vessels for the project. The two companies have agreed to work on other offshore wind projects to increase Brazil's renewable energy capacity.
Petrobras aims to diversify its energy portfolio and reduce reliance on fossil fuels. The partnership with Equinor is part of its strategy to achieve a net-zero carbon emissions target by 2050. Equinor has already established a strong presence in Brazil's offshore wind market by winning a significant share of the country's first offshore wind auction in 2021. It has also worked with local partners to develop wind projects in the country, including the Apodi Solar plant, operated by Scatec, which began production in 2018.
The agreement between Petrobras and Equinor is a milestone in the advancement of Brazil's offshore wind industry. It highlights the potential for collaboration between international and local companies in developing renewable energy projects in the country. Offshore wind is an important source of renewable energy that can help reduce carbon emissions and mitigate the effects of climate change. Brazil has the potential to become a major player in this industry, and the partnership is a positive step toward achieving this goal.
Petrobras S.A., headquartered in Rio de Janeiro, is the largest integrated energy company in Brazil and one of the largest in Latin America. It engages in activities such as oil exploration, exploitation, refining, processing, trading and transportation, natural gas and other fluid hydrocarbons, and other energy-related activities.
Zacks Rank and Key Picks
Currently, Petrobras carries a Zacks Rank #3 (Hold). Investors interested in the energy sector might also look at some better-ranked stocks like NGL Energy Partners (NGL - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and Energy Transfer (ET - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.