LatinNews Daily - 30 May 2025

*The CEO of Brazil’s state-controlled oil company Petrobras, Magda Chambriard, has announced that the oil giant will commission 52 ships by the end of 2026. The investment is expected to total R$29bn (US$5.1bn). Chambriard made the announcement yesterday at an event at the Itajaí port, in the southern state of Santa Catarina, where President Luiz Inácio Lula da Silva pledged a R$844m investment in public works to expand port capacity and improve infrastructure, such as adding canal drainage, a new pier, and digital surveillance systems for security. The Petrobras CEO hailed the fleet expansion plan as part of the Lula government’s broader efforts to revitalise the industrial sector, specifically the domestic shipbuilding industry. Chambriard said that the national naval industry had not received orders for new ships from Petrobras since 2016. Speaking to the press in Itajaí yesterday, Chambriard also said that Petrobras is looking for new oil reserves in the Pelotas Basin, which lies off the coastline of Brazil’s two southernmost states, Santa Catarina and Rio Grande do Sul.

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