Petrobras and CSN to Build Low-Carbon Hydrogen Plant in Brazil

Petrobras S.A. PBR, the Brazilian state-owned energy company, has signed a Protocol of Intent with Companhia Siderúrgica Nacional (“CSN”) and CSN Inova Soluções to develop a low-carbon hydrogen plant in Brazil. The agreement, which marks the beginning of a business partnership between the companies, is aimed at building a commercially viable low-carbon hydrogen plant in Paraná, Brazil.Low-carbon hydrogen can be used for various industrial processes and as a clean fuel. It can help reduce the carbon footprint of several industrial processes. The hydrogen would be obtained by electrolysis, which involves splitting water into hydrogen and oxygen using electricity. The electricity used in the process shall be obtained from renewable sources. However, Petrobras has not specified the renewable energy sources that would be used to power the production process.Both CSN and Petrobras aim to decarbonize their operations through this initiative. Notably, Petrobras' move aligns with its Strategic Plan 2050 and Business Plan 2025-2029. Signing the Protocol of Intent shows PBR’s commitment to lowering its carbon emissions from operations and increasing the availability of sustainable products. Petrobras’ Strategic Plan 2050 and Business Plan 2025-2029 mention the company’s long-term vision to become a leader in driving fair energy transition.PBR’s Zacks Rank and Key PicksCurrently, PBR carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the energy sector are FuelCell Energy FCEL, TechnipFMC plc FTI and Nine Energy Service NINE, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources, such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a high of $14.7 million in the third quarter of 2024, indicating an 11.1% increase from the previous year’s level. This growing backlog ensures strong revenue growth for FTI.Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the need for NINE’s services is anticipated to increase, which should position the company for growth in the long run.Zacks Naming Top 10 Stocks for 2025Want to be tipped off early to our 10 top picks for the entirety of 2025?History suggests their performance could be sensational.From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2025. Don’t miss your chance to get in on these stocks when they’re released on January 2.Be First to New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Petroleo Brasileiro S.A.- Petrobras (PBR): Free Stock Analysis Report TechnipFMC plc (FTI): Free Stock Analysis Report FuelCell Energy, Inc. (FCEL): Free Stock Analysis Report Nine Energy Service, Inc. (NINE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks