Petrobras’ Change In Strategy Provokes Strong Reactions

After having reported its earnings last Wednesday, newly installed Petrobras CEO Jean Paul Prates already prepared shareholders for a change of strategy by saying that the company must be ready for an 'unavoidable' energy transition. And now it seems that under the helm of Prates, the company is actively pursuing a major expansion of renewable energy assets. On Monday, Petrobras signed a letter of intent with Norwegian oil major Equinor to study the feasibility of another seven strategic offshore wind sites, expanding the partnership the companies…