Petrobras is exploring liquefied natural gas (LNG) exports from its offshore fields to capitalize on rising Asian demand. The company is in discussions with Seatrium on offshore gas liquefaction solutions. While Brazil has significant untapped gas potential—with over half currently reinjected into oil wells—Petrobras faces regulatory challenges in its domestic market and has not yet disclosed project timelines or investment requirements.

Doug Casey, a veteran investor, warns that AI spending represents a historic mania comparable to historical bubbles and advocates shifting investment focus to undervalued sectors: energy stocks (oil, gas, uranium, coal), mining companies (particularly gold miners with strong margins), and agricultural commodities (corn, soybeans, wheat, rice) that are trading at or below breakeven for producers.

Baker Hughes secured two multi-year contract extensions with Equinor to support offshore hydrocarbon production in the North Sea and expanded operations in Brazil's Santos Basin. The stock trades at $63.50 with a Buy rating and $74.00 average price target, though momentum indicators suggest cooling upside pressure.

Baker Hughes has secured a major contract extension with Petrobras to provide integrated well construction solutions across Brazil's Santos Basin pre-salt offshore fields. The expansion will deploy advanced technologies including AutoTrak rotary steerable systems, logging-while-drilling tools, and Dynamus drill bits to support deepwater well development. The project builds on a 2024 agreement and leverages Baker Hughes' comprehensive portfolio across drilling, wireline, cementing, and other specialized services.

Prosafe reported 42% fleet utilisation in March 2026 and 79% in Q1. Safe Eurus maintained full capacity operations in Brazil with near 100% uptime. Safe Zephyrus and Safe Notos completed scheduled maintenance and surveys, with Zephyrus resuming Petrobras operations on 13 April. Safe Boreas commenced gangway operations and a 15-month firm contract in Australia. Safe Caledonia holds a Letter of Intent from Ithaca Energy for a six-month contract starting Q2 2027, with final award expected in Q2 2026.

Valaris secured a 1,064-day contract extension with Petrobras for the drillship DS-4, adding approximately $447 million to its contract backlog starting November 2027. The company also partnered with PETRONAS Suriname and Halliburton to develop offshore assets in Suriname. Despite these positive developments, Valaris shares declined 1.38% to $96.69 at publication.

Baker Hughes announced its Q1 2026 earnings will be released on April 23, 2026, with a webcast discussion on April 24. The company signed a strategic long-term service agreement with Petrobras covering maintenance and repairs for up to 64 aeroderivative gas turbines for Brazil's offshore and refinery operations. Baker Hughes also successfully issued $6.5 billion in senior notes.

Baker Hughes secured a substantial 60-month service agreement with Petrobras worth significant value to support critical turbomachinery equipment for Brazil's offshore operations. The deal covers maintenance and engineering advisory services for up to 64 aeroderivative gas turbines across approximately 19 FPSO vessels. The stock showed mixed technical signals with neutral RSI but bearish MACD, trading slightly up on the news.

Sagil Capital LLP acquired 155,992 shares of Aura Minerals (AUGO) worth approximately $7.86 million in Q4, signaling renewed investor interest in the precious metals miner. The stock has surged 200% since its July Nasdaq debut, driven by stronger gold prices and solid company execution. The investment reflects confidence in Aura's vertically integrated mining operations and diversified portfolio across gold, copper, and silver.

Sagil Capital fully exited its position in Tidewater by selling 201,763 shares for approximately $10.76 million in Q4. Despite Tidewater's strong 29.6% performance over the past year and solid Q3 results with $341.1 million in revenue, the fund appears to be taking profits after significant gains. Tidewater maintains a 76% fleet utilization rate and has guided for $1.33-$1.35 billion in full-year revenue with $1.32-$1.37 billion expected for 2026.

London-based Sagil Capital fully exited its position in Compañía de Minas Buenaventura (BVN), selling 447,516 shares for $10.89 million in Q4. Despite BVN's extraordinary 220% gain over the past year, the exit reflects portfolio risk management and reduced commodity overlap in a fund concentrated in energy and shipping. The move highlights the cyclical nature of mining stocks and the importance of discipline after significant gains.

Petrobras (PBR) trades at $14.87-$15.03 per share with attractive valuations and elevated dividend yields (8-12%) compared to global energy peers. However, the stock carries a persistent discount due to political and governance risks, high capex plans ($109B through 2030), and investor skepticism about capital allocation. The company generates strong cash flow even at lower oil prices ($60-70 range), but the key question remains how cash will be deployed amid Brazil's political uncertainty.