RJN - Brazil: A Country For New And Established E&P Players' Growth Prospect

June, 21 2022 06:42 AM AB Svensk Ekportkredit ELEMENTS Linked to the Rogers International Commodity Index - Energy Total Return Structured Product

The upstream competitive landscape in Brazil has significantly shifted where the regionally focused independents and private equity-backed E&P players have actively been acquiring assets, primarily onshore and shallow water, from National Oil Company (NOC) Petrobras's (PBR) divestment program.
Following the announcement of the Albacora Leste field sale to PetroRio S.A. for about US$2 billion in May 2022, the total divestment for Petrobras under the current program has reached about US$6 billion till date.
Petrobras has a capital budget of $68 billion between 2022 and 2026, with 84% for the E&P segment, primarily in pre-salt areas including Buzios, Tupi, Sepia, Atapu, Itapu, and Sururu etc.

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Company Name:	AB Svensk Ekportkredit ELEMENTS Linked to the Rogers International Commodity Index - Energy Total Return Structured Product
Stock Symbol:	RJN
Market:	NYSE