Brazil's state-run oil company Petrobras will invest around 5.5 billion reais ($960 million) to turn its Riograndense refinery into the country's first biorefinery, Chief Executive Magda Chambriard said on Monday.

Brazil is the Schrödinger’s Cat of Opec+ – it is both in the group and out of it at the same time. Last week, the South American giant did announce that it had joined. But how exactly it is a member awaits the test of reality.

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Brazilian state-run oil firm Petrobras expects to boost diesel output by some 120,000 barrels per day (bpd) this year as it expands low-sulfur diesel production in some of its refineries, according to the firm's head of industrial processes.

Brazilian state-run oil company Petrobras and lender Banco do Brasil have contracted two export credit notes totaling 6.5 billion reais ($1.14 billion), Petrobras said on Thursday.

SAO PAULO (Reuters) -Brazilian President Luiz Inacio Lula da Silva will meet with environmental agency Ibama this week or the next to discuss Petrobras' bid to drill for oil near the mouth of the Amazon river, he told a local radio station on Wednesday.

Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country's evolution into a major oil state just nine months ahead of hosting the United Nations' annual climate summit.

Brazil’s state-run oil producer Petrobras should get rid of intermediaries and sell directly to consumers in order to lower fuel prices, President Luiz Inacio Lula da Silva said Monday.

Recently, we reported that Brazilian President Luiz Inacio Lula da Silva has been pressing the country’s environmental regulators to approve oil drilling near the mouth of the Amazon River, arguing that revenue from this new fossil fuel supply could help finance a transition to green energy.

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Brazil's President Luiz Inácio Lula da Silva is defending oil exploration near the mouth of the Amazon River as a way to finance a transition to green energy.

Brazil's state-run oil company Petrobras will invest around 5.5 B reais ($960 MM) to turn its Riograndense refinery into the country's first biorefinery.