Latest news with #Petrobras
Reuters
an hour ago
- Business
- Reuters
Petrobras' oil output rises 7.6% in Q2 boosted by production vessels ramp-up
RIO DE JANEIRO, July 29 (Reuters) - Brazilian state-run oil firm Petrobras ( opens new tab produced 2.32 million barrels of oil per day in Brazil during the second quarter, it reported on Tuesday, marking a 7.6% rise over the same period last year, as new production vessels increased output. In the second quarter, four floating production vessels increased output, one reached peak production and another started operations ahead of schedule, boosting output for the period, the firm said. Petrobras' total oil, gas and gas liquids production reached 2.91 million barrels of oil equivalent per day (boed) in the second quarter, up 7.8% from a year earlier, and sales of oil, gas and derivatives reached 2.98 million boed, a 1.6% increase. Petrobras' exports of oil and derivatives rose 2.7% to some 874,000 barrels per day, the firm said. During the period, China was the main destination for the company's oil, receiving 54% of the total, four percentage points above the same period last year. The United States received around 8% of oil exports, up from 5% in the second quarter of 2024. Earlier this month Petrobras Chief Executive Magda Chambriard told Reuters that the firm may redirect the oil it sells to the U.S., sending more to Asia and Pacific markets if higher tariffs the U.S. announced for the South American country come into effect.
Reuters
2 hours ago
- Business
- Reuters
Petrobras posts Q2 oil and gas output up nearly 8% from year earlier
SAO PAULO/RIO DE JANEIRO, July 29 (Reuters) - Brazilian state-run oil firm Petrobras ( opens new tab reported on Tuesday a total oil, gas and gas liquids production of 2.91 million barrels of oil equivalent per day (boed) in the second quarter, up 7.8% from a year earlier. Petrobras' oil production in Brazil reached 2.32 million barrels per day (bpd), a 7.6% increase, with the firm noting that during the second quarter five floating production vessels increased output and one started operating. Sales of oil, gas and derivatives reached 2.98 million boed, a 1.6% increase, while exports of oil and derivatives rose 2.7%, to some 874,000 bpd, said the firm.
Yahoo
5 days ago
- Business
- Yahoo
Petróleo Brasileiro S.A. – Petrobras (PBR): A Bull Case Theory
We came across a bullish thesis on Petróleo Brasileiro S.A. - Petrobras on Stock Analysis Compilation's Substack. In this article, we will summarize the bulls' thesis on PBR. Petróleo Brasileiro S.A. - Petrobras's share was trading at $12.26 as of July 22nd. PBR's trailing and forward P/E were 9.15 and 4.33, respectively according to Yahoo Finance. Petrobras, one of the world's largest integrated energy producers, is anchored by its vast pre-salt oil reserves and decades of deepwater expertise, giving it a durable competitive advantage in the global energy market. These pre-salt fields, among the most significant petroleum discoveries of the 21st century, hold high-quality light crude oil and offer exceptionally low lifting costs. Over years of pioneering deepwater exploration, Petrobras has developed unmatched operational capabilities, establishing itself as the natural operator of these challenging reservoirs. Its extensive refining and logistics network in Brazil complements upstream operations, enhancing stability and integration. Over the past few years, Petrobras has undergone a strategic transformation, focusing squarely on maximizing value from its most profitable exploration and production activities. The company has divested non-core onshore, midstream, and downstream assets, concentrating capital on high-return pre-salt projects, which has strengthened its balance sheet and improved cash flow generation. While the Brazilian government remains the controlling shareholder, influencing governance, strategy, and capital allocation, the intrinsic quality of Petrobras's asset base and its ability to execute operationally remain undeniable. The focus on these core geological strengths has reinforced its standing as a globally significant energy producer. By capitalizing on the scale and efficiency of its pre-salt operations, Petrobras has positioned itself to continue delivering value, with its world-class reserves and technological leadership serving as the foundation of sustainable long-term growth. This sharpened strategic direction underscores the company's commitment to unlocking maximum value from its unparalleled deepwater portfolio. Previously, we covered a on Ecopetrol S.A. (EC) by Unemployed Value Degen in October 2024, which highlighted its undervaluation, strong margins, and double-digit dividend yield supported by the commodity supercycle. The company's stock price has appreciated by approximately 8.44% since our coverage, as the thesis played out. The thesis still stands on continued commodity-driven growth. Stock Analysis Compilation shares a similar view but emphasizes Petrobras's scale, deepwater expertise, and focus on high-return pre-salt projects. Petróleo Brasileiro S.A. - Petrobras is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held PBR at the end of the first quarter which was 31 in the previous quarter. While we acknowledge the potential of PBR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
23-07-2025
- Business
- Mint
Oil India in talks with ExxonMobil, Total, Petrobras for joint bids in new auction round
New Delhi: State-owned Oil India Ltd is in talks with global exploration and production (E&P) majors, including ExxonMobil, TotalEnergies and Petrobras, to jointly explore hydrocarbon blocks in India, said two people in the know of the developments. Oil India's one-on-one talks with these companies are largely focused on a possible partnership for the 10th round of auctions under the country's Open Average Licensing Policy (OALP-X). In this round, the government plans to offer 2.5 lakh sq. km. area for exploration. The OALP-X round was launched in February and the deadline for submission of bids is 31 July. According to one of the people cited above, there is likelihood of an extension of the deadline. 'Talks are underway with major global players, Total, ExxonMobil and Petrobras. It is being looked at if Oil India can get a partner for the upcoming 10th round of auctions for deep and ultradeep water blocks," said the person mentioned above. 'The partner would also have the option to come together for blocks bagged in the previous round (ninth)." Queries sent to Oil India, TotalEnergies, Exxonmobil, and Petrobras remained unanswered till press time. Apart from this, Oil India is also scouting for a technical service partner in its old and legacy oilfields, where it is looking to increase production. In an interview to Mint in May, Ranjit Rath, chairman and managing director of Oil India, had said several overseas national as well as private oil companies have shown interest in jointly bidding for blocks in the upcoming auction round. 'We have several engagements currently going on," Rath had said. 'With some of them, we have got NDAs (non-disclosure agreements) signed, and we are having data exchanges," the chairman said. In February, the Maharatna company had signed a memorandum of understanding with Petrobras, Brazil's state-owned oil firm, to collaborate in the exploration and production of hydrocarbon resources in India's offshore regions. Global collaborations are critical to bring in expertise for deep and ultra deepwater blocks. 'For shallow water and onshore exploration and development, most of the companies have the required technologies. But in the case of deep and ultra deepwater blocks, there are challenges in every stage, exploration, development and production, due to the ocean weight, the pressure that the ocean creates," said Gaurav Moda, partner and energy sector leader at EY-Parthenon India. 'Only a few global players have the expertise to explore and produce oil from such blocks. They also require different kind of equipment compared to shallow water and onshore exploration and extraction." Noting the urgency in India's aim to harness its domestic reserves, Moda said that rather than trying to indigenously develop such technologies, striking a partnership with a global player would be more beneficial. Under the OALP-IX round, Oil India bagged nine blocks, adding 51,000 sq. km. to its exploration portfolio. Three of the blocks--one each in Cambay, Mahanadi and Assam Shelf basins--were won in partnership with its public sector peer Oil and Natural Gas Corp Ltd (ONGC), while another six were acquired on its own. ONGC, together with UK-headquartered BP plc and Reliance Industries Ltd, won the bid to explore Saurashtra basin under OALP-IX, marking BP's foray into India's upstream oil and gas space. Oil India's move to scout for global partnerships is in line with the government's push to attract overseas investments in the upstream space in a bid to raise local production and reduce the country's dependence on imports. During his visit to Vienna for the 9th OPEC International Seminar earlier this month, union minister for petroleum and natural gas Hardeep Singh Puri met chiefs of global energy giants and discussed potential collaborations in light of India's ambitious E&P plans. The minister had said India is set to explore nearly 2.5 lakh sq. km. in new offshore and onshore areas under OALP-X, which will make it one of the world's largest bidding rounds. In FY25, Oil India produced 3.46 million tonne (MT) of crude and natural gas, amounting to 3.25 MT of oil equivalent. This took its total hydrocarbon production to 6.71 MT of oil equivalent, the highest ever for the company. It aims to achieve oil and gas production of 10-12 MT of oil equivalent by the end of the decade. In 2020, under the third round of auctions, Oil India had won two blocks in the Andaman basin, touted as an oil-rich region.
Business Insider
21-07-2025
- Business
- Business Insider
Petrobras initiated with an Outperform at CICC
CICC initiated coverage of Petrobras (PBR) with an Outperform rating and $16 price target Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
