Petrobras (PBR) ended the recent trading session at $14.59, demonstrating a +0.34% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.26% gain on the day. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 0.35%. Coming into today, shares of the oil and gas company had lost 14.87% in the past month. In that same time, the Oils-Energy sector lost 3.91%, while the S&P 500 gained 3.25%. The investment community will be closely monitoring the performance of Petrob ...

Petrobras (PBR) , the renowned Brazilian oil and gas company, awarded a significant contract to Vallourec S.A., a leading provider of tubular solutions, to supply premium carbon steel tubes with Glass Reinforced Epoxy ("GRE") liners and corrosion-resistant alloy accessories.These advanced products are expected to play a key role in various offshore development wells, primarily in the pre-salt Campos Basin offshore Brazil. This new contract is an extension of a three-year agreement between the two companies ...

Petrobras (PBR) , the Brazilian oil and gas company, divested its 30% stake in Brentech Energia SA to its joint venture partner, Enegen Participações Ltda, which owned the remaining 70%. This deal was closed by the signing of the share purchase agreement, without any precedent conditions. The transaction was valued at BRL 10.6 million (approximately $2 million), paid in full at the signing. Strategic Alignment With Decarbonization Goals PBR's Decarbonization Strategy: This sale aligned with PBR’s broader st ...

Petrobras (PBR) , Brazil's national oil and gas company, has awarded Subsea 7 S.A. (SUBCY) a contract for the development of the Búzios 9 field. This field is located approximately 180 kilometers off the coast of Rio de Janeiro, Brazil, in the pre-salt Santos basin at a depth of 2,000 meters. This deal, which is valued at more than $1.25 billion, signifies a win for both companies. Scope of the Contract The contract includes the engineering, procurement, fabrication, installation and pre-commissioning of 10 ...

Petrobras (PBR) , Brazil's largest oil and gas company, has awarded a contract to Singaporean state-owned Seatrium, a leading offshore and marine specialist through an international tender. The deal, valued at approximately $11 billion, tasks Seatrium with constructing two new floating production storage and offloading (FPSO) vessels for deployment in Brazil's Santos Basin. Cutting-Edge FPSOs for Atapu and Sepia Fields The P-84 and P-85 FPSO platforms are scheduled to be installed in the Atapu and Sepia fie ...

Petrobras (PBR) , a Brazil-based oil and gas company, has shifted its strategic direction by halting the sale of its refineries, a move coordinated with the country's antitrust regulator. This decision reverses a plan announced five years ago to sell a total of eight refineries, of which three had already been sold. The change comes amid increasing governmental pressure to expand operations, create jobs and stimulate the Brazilian economy. The Initial Plan: Divestment of Refineries Background of the Divestm ...

In a dramatic shakeup, the Brazilian government ousted Petroleo Brasileiro S.A., or Petrobras (PBR) CEO Jean Paul Prates last week. The dismissal, prompted by disagreements over dividend policies, underscores ongoing tensions between the state-controlled oil giant and President Luiz Inácio Lula da Silva’s administration. This development marks the fifth change in Petrobras' leadership within three years, highlighting persistent political interf What Happened? The ousting of Prates, who served less than 18 m ...

Petrobras (PBR) , the renowned Brazilian state-run oil and gas company, is set to launch two significant tenders by the end of the year. These tenders aim to contract up to 26 newbuild offshore support vessels, marking a significant effort to rejuvenate Brazil's shipbuilding industry. This initiative is expected to generate substantial investments, potentially reaching $2.5 billion. The announcement was made just hours before Jean Paul Prates resigned as CEO, signaling a key moment for Petrobras and the Bra ...

Petrobras (PBR) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term. Over the past month, shares of this oil and gas company have returned -2.3%, compared to the Zacks S&P 500 composite's +5% change. During this period, the Zacks Oil and Gas - Integrated - Emerging Markets industry, which Petrobras falls in, has lost 2.2%. The key question now is: What could be the stock's future direction ...

Petroleo Brasileiro S.A., or Petrobras (PBR) , announced first-quarter earnings per ADS of 75 cents, missing the Zacks Consensus Estimate of 84 cents. Earnings also came in well below the year-ago profit of $1.11. The underperformance can be blamed on rising pre-salt lifting costs that resulted in weak upstream profitability, plus higher refining outlay. This was partly offset by strong production. Recurring net income, which strips one-time items, came in at $4,816 million compared with $7,392 million a ye ...