(https://www.reuters.com/business/energy/petrobras-monitoring-fallout-iran-conflict-watching-before-fuel- price-decision-2026-03-02/undefined?location=article- paragraph&redirectUrl=%2Fbusiness%2Fenergy%2Fpetrobras-monitoring-fallout-iran-conflict-watching- before-fuel-price-decision-2026-03-02%2F)Brent crude rose as much as 13% on Monday and was up about 8% around noon Brasilia time, boosting the shares of Petrobras, which also exports crude."This will be a week of observation that could lead to a decision ...

Core Viewpoint - Brazil's state-run oil company Petrobras is exploring investment opportunities in Venezuela, recognizing its potential but also acknowledging the associated risks [1]. Group 1: Venezuela Opportunities - Petrobras is considering opportunities in Venezuela, which is seen as having "great potential" for oil production [1]. - The head of Exploration and Production, Sylvia Anjos, expressed concerns that investing in Venezuela could jeopardize Petrobras' environmental credentials, particularly in the oil-polluted Lake Maracaibo [1]. - Anjos does not anticipate a short-term increase in Venezuela's oil production, indicating it is not a direct threat to Petrobras' business [1]. Group 2: Other International Opportunities - Beyond Venezuela, Petrobras is actively seeking opportunities in Africa, specifically in Ghana, Ivory Coast, and Namibia [1]. - The company has recently signed a deal to acquire an exploration license in Namibia, highlighting its strategic focus on Africa as a key exploratory region outside of Brazil [1].