RE:Brazil’s New President
As Petrobras capital is diverted away from oil production to renewables expect a decline in oil production and less oil on global markets and a rise in oil prices.
Couple that with a shift of more Russian and Gulf oil going East, a decline in Russian production, no more spare capacity with OPEX +, flat shale production expect a rise in 2023 oil prices, rising demand globally, China opening up, and India hitting on all cylinders.
Petrotal is in a good position. They have rising production, they have reached an agreement with the dissident faction, they have more oil flowing east through Brazil, and they get premium over Brent.
One of the highest eps/share price ratio of 31% of Canadian oil producers.
$0.21 EPS to $ 0.67/share ratio of 0.31