Oil & gas

Petrobras

A Brazilian, majority state-controlled energy company involved in oil and gas exploration, production and refining.

Ticker: PBRNYSE-listedBrazil
Market chart

Petrobras stock chart

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What is Petrobras?

Petróleo Brasileiro, known as Petrobras, is a Brazilian energy company engaged in oil and gas exploration, production, refining and distribution, including significant offshore “pre-salt” oil reserves off the Brazilian coast.

Why investors watch Petrobras

Petrobras is one of the largest energy producers in Latin America, and its share price is closely tied to global oil prices. Investors also watch its dividend policy, which has at times been notably generous relative to global oil peers.

Risks and considerations for state-controlled companies

Because the Brazilian government holds a controlling stake, Petrobras' capital allocation, pricing decisions and dividend policy can be influenced by government objectives in addition to ordinary business and shareholder considerations. This introduces a distinct governance risk compared with companies that are not majority state-owned, alongside standard commodity-price and currency risk.

Long-term investing considerations

State influence, commodity price swings and currency movements in the Brazilian real can all affect long-term outcomes independently of the company's operational performance. Consider these risks separately when testing scenarios.

Company snapshot

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Fundamentals

Key financials

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