Petrobras: Morpho oil 'extremely high quality'; appraisal wells delayed to 2027

Petrobras director states the oil from the Morpho discovery is of 'extremely high quality,' but the appraisal campaign to delimit the field will only begin next year. This suggests a positive resource assessment yet a slower-than-expected development timeline, with implications for Petrobras' production outlook and Brazil's offshore energy sector.