Petrobras S.A. (PBR) , the Brazilian state-owned energy company, has inked 26 concession contracts in partnership with Shell plc (SHEL) for several blocks in the Pelotas Basin. Per the terms of the agreement, Petrobras will become the operator of these blocks, holding a 70% stake. The remaining 30% stake will be held by Shell. These contracts were awarded by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in December 2023. The contracts were made available in a public session conducted by t ...