Brazilian Trading Volume Plummets 41.56% Petrobras Secures Foz do Amazonas Basin Rights

On June 18, 2025, Brazilian saw a significant decline in trading volume, with a total of 2.64 billion shares traded, marking a 41.56% decrease from the previous day. This placed Brazilian at the 298th position in terms of trading volume for the day. Petrobras (PBR) experienced a slight decrease, with its stock price falling by 0.46%.

Petrobras has secured new exploration rights in Brazil's Foz do Amazonas basin, positioning itself alongside major players such as Exxon Mobil and Chevron. This strategic move is part of Petrobras' efforts to expand its offshore oil and gas production capabilities, which are crucial for the company's long-term growth.

On June 17, 2025, Petrobras announced the acquisition of ten blocks in the Foz do Amazonas Basin and three blocks in the Pelotas Basin. These acquisitions are part of the 5th bidding process conducted by the National Petroleum Agency (ANP), highlighting Petrobras' commitment to exploring new oil and gas reserves in Brazil.

The Foz do Amazonas Basin is estimated to hold 10 billion barrels of recoverable crude, making it a highly attractive area for oil exploration. The basin's geological similarities to Guyana's Stabroek Block, which has become a significant source of revenue for Exxon and Chevron, further underscore its potential. If even half of Foz's reserves are proven, this could add 400,000 barrels per day to Brazil's output by 2030, helping the country reach its target of 5.3 million barrels per day.

However, extracting oil from the Foz do Amazonas Basin comes with significant challenges, including lawsuits, environmental concerns, and Indigenous protests. Petrobras' CEO, Magda Chambriard, has described the company's involvement in the basin as a "strategic pivot" to offset declining production from older fields. Despite these challenges, Petrobras' 50% average stake in the Foz blocks gives it control over the most promising acreage, positioning the company for potential future gains.

Petrobras has also invested $892 million to double the capacity of its RNEST Refinery. This investment includes key contracts to complete the refinery's Train 2, which is expected to double its refining capacity by 2029. This expansion is part of Petrobras' broader strategy to enhance its refining capabilities and meet growing demand for refined products.