# Tag: ExxonMobil

- [Petrobras Looks Increasingly Like an Oil Major. But It Can’t Be Just Another One](https://brazilstockguide.com/behind-the-lines/petrobras-oil-major-valuation-discount/) (2026-09-29): Production, cash generation and a healthy balance sheet already put Petrobras closer to the world’s largest oil companies. Its valuation discount also reflects the cost of a company that must serve both shareholders.
- [Equatorial Margin: Production Sharing or Concessions?](https://brazilstockguide.com/behind-the-lines/equatorial-margin-production-sharing-or-concessions/) (2026-09-07): The more promising Brazil’s newest oil frontier looks, the harder it becomes to decide how much exploration risk still needs to be rewarded and how much of the upside should remain with the country.