Petrobras Signs Deal with Proquigel

Petrobras, Brazil's big oil company, made a deal with Proquigel to end their legal fights. The deal needs approval from judges first.

This agreement lets Petrobras take back two fertilizer plants in Bahia and Sergipe states. The company wants to start making fertilizer again to earn more money. They plan to hire other companies to run and fix the plants.

Petrobras thinks making fertilizer will help their business grow. It connects with their oil and gas work and helps with clean energy goals.

The company is doing well with money. In the first three months of this year, they made 35 billion reais (about $6 billion) in profit. They spent most of their investment money on underwater oil projects.

Petrobras pumped 2.77 million barrels of oil and gas each day. This was 5.4% more than the previous three months.

The fertilizer plants will help Petrobras make products that farmers need while using their oil and gas knowledge.