The article says New Zealand’s petrol, diesel and jet fuel supply has held up four months after the Strait of Hormuz closed, largely because Saudi Arabia’s East-West pipeline is pumping at full capacity of 7 million barrels per day to the Red Sea port of Yanbu. New Zealand imports nearly all refined fuel, mainly from South Korea and Singapore, and the report notes New Zealand has about 38 days of fuel onshore plus offshore stocks. It adds that the main constraint is now crude routing and Red Sea
Mondrian Investment Partners increased its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 14.1% in Q4, buying 1,562,473 shares to hold 12,655,094 shares. The position was about 2.4% of its portfolio and valued at $149.96M. Petrobras reported Q1 EPS of $0.96 on revenue of $23.54B and declared a special dividend of $0.1426.
Petrobras has finalized the acquisition of a 49.99% stake in Lightsource bp's Brazilian subsidiaries, forming a joint venture to develop renewable energy and storage projects. This move aligns with Petrobras's 2026-2030 business plan to expand its solar generation and clean energy presence in Brazil. Analysts rate Petrobras (PBR) as a Buy with a $24.80 price target, and TipRanks' AI Analyst, Spark, also rates it as Outperform due to solid financial performance and attractive valuation.
