Brazil’s state-run oil firm Petrobras PETR3 will commission 52 vessels by 2026, investing 29 billion reais ($5.12 billion), said Chief Executive Magda Chambriard during an event on Thursday alongside President Luiz Inacio Lula da Silva.

Without providing further details, Chambriard said the firm will ensure up to 65% in local content for the construction of the vessels, which would help boost Brazil’s shipbuilding industry.
Source: Reuters