PETRONAS' Operations in Brazil, Part of Our Global Transformation Journey

PETRONAS' Operations in Brazil, Part of Our Global Transformation Journey

In response to recent media reports, PETRONAS wishes to clarify that we regularly review our investments to strengthen resilience and drive long-term value creation, including in Brazil. Such reviews ensure continued alignment with our growth strategy, as our focus remains on maintaining a robust and sustainable portfolio.

Brazil continues to be an important market where we have established a significant integrated presence across the energy value chain. 

In the upstream segment, PETRONAS is participating in three producing fields and four deepwater exploration blocks. In addition to upstream operations, we operate a Floating Production & Storage Offloading (FPSO) through MISC while AET supports offshore production through a fleet of 13 dynamic positioning shuttle tankers. 

Our lubricants business in Brazil is a hub that supplies to more than 20 countries across Latin America and the Caribbean. Recently, PETRONAS expanded into the downstream retail segment, with 30 branded fuel stations currently operating in the country. 

As part of its transformation journey, PETRONAS is committed to be disciplined in delivering value from its international growth. Recent key milestones include the award of new exploration blocks in Indonesia and Suriname, as well as a new Production Sharing Contract for Block I offshore Turkmenistan. In early July, PETRONAS' first LNG cargo was delivered from our operations in Canada.

Accordingly, PETRONAS will continue evaluating strategic opportunities globally while remaining committed to creating long-term value.