Excellent oversight on the Brazilian market by Blackrock’s Will Landers in this video via CNBC. One amazing note is the capital expenditure budget for Petrobras (PBR) over the next 5 years: $250 Billion…. i.e. $150 million A DAY! An entire economic ecosystem can survive just rotating around the sphere that is PBR.
9 minute video but the discussion with Landers begins at the 2 minute mark.