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Brazil's state-run oil firm Petrobras will look into opportunities in neighboring Venezuela, said the head of Exploration and Production Sylvia Anjos in an interview with newspaper O Globo on Friday.

Brazilian state-run oil firm Petrobras on Tuesday reported a total oil, gas and gas liquids production of 3.11 million barrels of oil equivalent per day (boed) in the fourth quarter of 2025, up about 18% from a year earlier.

Namibia is concerned that TotalEnergies and Petrobras had acquired new offshore positions in the Luderitz Basin without informing the energy ministry or getting the necessary approval, it said in a statement on Sunday.

Petrobras is my top pick for 2026, upgraded from hold to buy, driven by macro, sector, and company-specific catalysts. PBR trades at a significant valuation discount to global peers, despite superior margins, returns, and double-digit dividend yields. Potential new oil discoveries at the Amazon River mouth could replicate the transformative impact of past pre-salt finds.

Brazil's oil regulator ANP authorized state-run oil firm Petrobras to resume drilling activities at the environmentally sensitive Foz do Amazonas region on Wednesday, a document seen by Reuters showed.