Petrobras reaches R$ 800 billion market value amid oil discoveries

Petrobras has reached a market valuation of R$ 800 billion for the first time, marking a period of significant growth in 2026. The company reported that its preferred shares (PETR4) have risen approximately 100% this year, while ordinary shares (PETR3) have increased by about 110%.

This valuation milestone follows a new ultra-deepwater oil discovery in the Foz do Amazonas Basin, located on the Brazilian Equatorial Margin off the coast of Amapá. The discovery has heightened market expectations regarding the petroleum potential of Brazil's northern region. Additionally, Petrobras reported a 15% increase in domestic oil production during the second quarter of 2026, reaching 2.7 million barrels per day.

Financial analysis by Elos Ayta indicates that Petrobras led the valuation among the world's 19 largest oil companies in October, with a 22.45% increase in dollar terms. For the full year 2026, the company's stock has appreciated by 120.39% in dollars, ranking fourth globally. Petrobras currently holds the fifth-largest market capitalization in the sector, valued at approximately US$ 159.49 billion.