Brazil's state-owned energy giant, Petrobras S.A. (PBR) , has inked three important concession agreements with London-based oil major Shell and China's CNOOC for acquiring blocks in the Pelotas Basin offshore southern Brazil. The company received these contracts during the fourth cycle of the permanent concession offer held in December 2023 by the National Agency of Petroleum, Natural Gas and Biofuels ("ANP"). Overview of PBR's Concession Agreements During the fourth cycle of the permanent concession offer ...