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Petrobras (PBR) Aims to Lead Brazil's Wind Energy Sector

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Petrobras (PBR - Free Report) , Brazil’s state-owned oil and gas company, is set to unveil a series of initiatives aimed at establishing itself as the country's biggest wind energy developer, per a Reuters report.

Petrobras CEO Jean Paul Prates and Mauricio Tolmasquim, the company's head of energy transition and sustainability, are set to present these initiatives.

At an event in Sao Paulo, Tolmasquim indicated that Petrobras is actively exploring partnerships for greenfield projects and potential mergers and acquisitions as part of its strategy to expand its green energy portfolio.He also emphasized Petrobras' commitment to reducing emissions from its product portfolio. This focus on decarbonization aligns with global efforts to combat climate change and is an essential step for the energy sector. By seeking partnerships with other companies, PBR aims to leverage collective efforts in achieving its decarbonization goals more efficiently.

Petrobras also intends to invest in green electrons and molecules, or products which produce and store power while generating negligible amounts of harmful emissions.

Zacks Rank & Key Picks

Currently, Petrobras carries a Zack Rank #3 (Hold).

Some better-ranked players in the energy sector are USA Compression Partners, LP (USAC - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), and Global Partners (GLP - Free Report) and Viper Energy Partners LP (VNOM - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

USA Compression Partners is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USAC has witnessed an upward earnings estimate revision for 2023 and 2024 in the past 30 days.

Global Partners is a Delaware limited partnership, formed by affiliates of the Slifka family. The partnership owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. GLP is one of the largest wholesale distributors of distillates. It has witnessed an upward earnings estimate revision for 2023 and 2024 in the past 60 days.

Viper Energy Partners is a variable distribution MLP, generating strong and steady royalty income from mineral interests in Eagle Ford and Permian Basin. VNOM has witnessed an upward earnings estimate revision for 2023 and 2024 in the past seven days.

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