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Shell Sees Opportunity in Brazil's Oil Sector Amidst US-Iran Tensions

Published March 3, 2026, 17:17
Shell Sees Opportunity in Brazil's Oil Sector Amidst US-Iran Tensions

Shell sees a significant opportunity to develop Brazil's oil resources due to the increased geopolitical instability caused by the conflict between the US-Israel and Iran. Shell's CEO in Brazil, Cristiano Pinto da Costa, stated that Brazil's geopolitical stability and reliability as an oil producer make it an attractive destination for investment. The company has already invested 12.5 billion reais ($2.4 billion) in Brazil last year and expects to maintain high investment levels in the coming years as it develops its assets, including the Orca field. Shell's production in Brazil reached a record 496,000 barrels of oil equivalent per day in February.