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Petrobras (PBR) Commences the Chartering of 2 FPSO Vessels
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Petrobras (PBR - Free Report) announced that it has recently begun the contracting process to charter two floating, production, storage, and offloading (FPSO) boats specifically for the Sergipe-Alagoas Deepwater Project (SEAP) in the Sergipe Basin, about 100 kilometers off the shore. In addition to creating a new production frontier in the Northeast, Petrobras claimed that the two FPSOs would boost the amount of national gas available.
According to the company, each station (SEAP I and II) will have the capacity to handle about 120 thousand barrels of oil per day. Between 38 and 41 degrees API, the oil in this zone is light and known to be of excellent quality. As a result, it also has a high commercial worth. A total of 18 million cubic meters of gas can be produced per day by the plants combined.
According to Petrobras CEO Jean Paul Prates, the Sergipe Águas Profundas project has the potential to increase domestic natural gas production and reduce reliance on imported supplies. The induction of a production project at a water depth of above 2,500 meters, integrating fresher innovations, will also be made possible by this.
Per the company, the two FPSOs will be chartered units. In their technical specifications, Petrobras used advanced solutions such as improvements in the treatment and injection system for the water produced in the reservoir and new technologies with greater efficiency in reducing greenhouse gas emissions.
Zacks Rank & Key Picks
Currently, Petrobras carries a Zack Rank #3 (Hold).
CVR Energy, a diversified holding company with its main office in Sugar Land, TX, is an independent refiner and marketer of high-value transportation fuels. Over the past seven days, CVI has seen an upward revision in earnings estimates for 2023.
Par Pacific, a growth-oriented company, combines knowledge of corporate financing with experience in the oil and gas sector. With 94,000 barrels per day of active refining capacity and a logistical system that includes an SPM, storage, barges, pipelines and trucking operations, PARR owns and manages one of Hawaii's biggest energy networks. Over the past 30 days, it has witnessed upward earnings estimate revisions for 2023 and 2024.
Valero Energy is a global manufacturer and marketer of transportation fuels and petrochemical products. With 15 refineries spread across Canada, the United States and the United Kingdom, it has a daily refining capacity of 3.1 million barrels. Over the past seven days, VLO has seen an upward revision in earnings estimates for 2023.
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Petrobras (PBR) Commences the Chartering of 2 FPSO Vessels
Petrobras (PBR - Free Report) announced that it has recently begun the contracting process to charter two floating, production, storage, and offloading (FPSO) boats specifically for the Sergipe-Alagoas Deepwater Project (SEAP) in the Sergipe Basin, about 100 kilometers off the shore. In addition to creating a new production frontier in the Northeast, Petrobras claimed that the two FPSOs would boost the amount of national gas available.
According to the company, each station (SEAP I and II) will have the capacity to handle about 120 thousand barrels of oil per day. Between 38 and 41 degrees API, the oil in this zone is light and known to be of excellent quality. As a result, it also has a high commercial worth. A total of 18 million cubic meters of gas can be produced per day by the plants combined.
According to Petrobras CEO Jean Paul Prates, the Sergipe Águas Profundas project has the potential to increase domestic natural gas production and reduce reliance on imported supplies. The induction of a production project at a water depth of above 2,500 meters, integrating fresher innovations, will also be made possible by this.
Per the company, the two FPSOs will be chartered units. In their technical specifications, Petrobras used advanced solutions such as improvements in the treatment and injection system for the water produced in the reservoir and new technologies with greater efficiency in reducing greenhouse gas emissions.
Zacks Rank & Key Picks
Currently, Petrobras carries a Zack Rank #3 (Hold).
Some better-ranked stocks for investors interested in the energy sector are CVR Energy (CVI - Free Report) and Par Pacific Holdings Inc. (PARR - Free Report) , both sporting a Zacks Rank #1 (Strong Buy) and Valero Energy Corporation (VLO - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CVR Energy, a diversified holding company with its main office in Sugar Land, TX, is an independent refiner and marketer of high-value transportation fuels. Over the past seven days, CVI has seen an upward revision in earnings estimates for 2023.
Par Pacific, a growth-oriented company, combines knowledge of corporate financing with experience in the oil and gas sector. With 94,000 barrels per day of active refining capacity and a logistical system that includes an SPM, storage, barges, pipelines and trucking operations, PARR owns and manages one of Hawaii's biggest energy networks. Over the past 30 days, it has witnessed upward earnings estimate revisions for 2023 and 2024.
Valero Energy is a global manufacturer and marketer of transportation fuels and petrochemical products. With 15 refineries spread across Canada, the United States and the United Kingdom, it has a daily refining capacity of 3.1 million barrels. Over the past seven days, VLO has seen an upward revision in earnings estimates for 2023.