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Investments in Brazil on the rise propelled by high crude prices

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With oil prices soaring above the $100 per barrel threshold, operators around the world are rethinking their business investments and corporate strategies

Things are no different offshore Brazil.

Petrobras is leading the charge in Brazilian waters with investments in upstream activities that are expected to reach about $9 billion this year alone, as the state-controlled oil company injects cash to develop its massive deep-water resources in the prolific pre-salt fairway.

And while Petrobras slightly downplayed the impact sustained higher crude prices would have on its long-term decision-making process, it admitted that “some opportunities may arise in operational management and in complimentary projects”.