RIO DE JANEIRO, BRAZIL – In a statement to shareholders, the Brazilian state-owned oil company said that production in the pre-salt (a coastal offshore area where the country’s largest oil and gas reserves are located) in August was as high as 2.2 million barrels.
According to the company, this result represents a new record.
Currently, pre-salt production accounts for 61.4 percent of Brazil’s total oil and gas production.
Petrobras’ high production signals a positive moment for the oil sector, which also registered positive results in July.
The National Petroleum Agency (ANP), the government’s regulatory body, reported last Monday that the country’s oil production in July was 2.775 million barrels per day, an increase of 8.5 percent over the month of June.
There were also 124 million cubic meters of natural gas produced per day (m3/d) in July, an increase of 11.7 percent over the previous month.
Currently, pre-salt production accounts for 61.4 percent of Brazil’s total oil and gas production.
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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$139.52B
Market cap
Analyst target $22.95
Wall Street view
4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $22.95 · +29% vs 200-day
Valuation & profitability
Market cap$139.52B
Revenue (TTM)$548.49B
P / E ratio5.3
Profit margin24.3%
Return on equity30.3%
Price & risk
52-wk low $10.6552-wk high $21.99
Beta (volatility)-0.21
200-day average$17.83
Revenue trend · 6y
20202025
Latest $88.10B
Ownership
Institutions22.3%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds
Dividend
Yield17.5%
Payout ratio28.3%
Fwd. annual$1.68
What Petroleo Brasileiro Petrobras does. Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces…
