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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Petróleo Brasileiro S.A. - Petrobras    PETR4   BRPETRACNPR6

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(PETR4)
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End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 12/02
25.85 BRL   +0.98%
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Petróleo Brasileiro S A Petrobras : Petrobras Begins Sale of 11 Onshore Oil Concessions in State of Sergipe

10/23/2020 | 09:13am EST

By Jeffrey T. Lewis

SÃO PAULO--Brazilian state-controlled oil company Petróleo Brasileiro SA, or Petrobras, said Friday it began the sale of 11 onshore oil concessions in the country's northeastern state of Sergipe.

The company released the information on the 11 concessions, all part of the Carmopolos production pole, for potential buyers to study. Petrobras is also selling the installations associated with the fields, which are all located in the Sergipe-Alagoes basin.

The sale is part of Petrobras's strategy of divesting non-core assets, including onshore fields, shallow-water offshore fields and stakes in gas and fuel distributors, among other things, to reduce its debt and focus its efforts on boosting production from its rich, deep-water and ultra-deep-water fields off the coast of Rio de Janeiro and São Paulo states.

The company said earlier this week that it pumped an average of 2.95 million barrels of oil equivalent per day during the three months ended in September, an increase of 5.4% from the previous three-month period, as it boosted efficiency and ramped up output from new platforms in those fields.

The onshore fields that the company is selling include close to 3000 operating wells, 17 oil treatment stations and about 220 miles of oil and gas pipelines, among other installations. Average production from the wells in the first three quarters of this year was close to 10,000 barrels of oil per day and 73 thousand cubic meters of gas per day.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

(END) Dow Jones Newswires

10-23-20 0912ET

Stocks mentioned in the article
ChangeLast1st jan.
PETRÓLEO BRASILEIRO S.A. - PETROBRAS 0.98% 25.85 End-of-day quote.-14.35%
WTI 1.78% 44.93 Delayed Quote.-26.33%
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Financials
Sales 2020 283 B 53 942 M 53 942 M
Net income 2020 -53 812 M -10 268 M -10 268 M
Net Debt 2020 360 B 68 783 M 68 783 M
P/E ratio 2020 -4,82x
Yield 2020 1,04%
Capitalization 339 B 64 832 M 64 715 M
EV / Sales 2020 2,47x
EV / Sales 2021 1,89x
Nbr of Employees 57 983
Free-Float 64,3%
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Technical analysis trends PETRÓLEO BRASILEIRO S.A. - PETROBRAS
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Average target price 34,03 BRL
Last Close Price 25,85 BRL
Spread / Highest target 56,7%
Spread / Average Target 31,6%
Spread / Lowest Target 8,32%
EPS Revisions
Managers
NameTitle
Roberto da Cunha Castello Branco President, Chief Executive Officer & Director
Eduardo Bacellar Leal Ferreira Chairman
Andrea Marques De Almeida Chief Financial & Investor Relations Officer
Marcelo da Silva Carreras Head-IT & Telecommunications
Marcia Tosta Head-Cyber & Information Security
Sector and Competitors
1st jan.Capitalization (M$)
PETRÓLEO BRASILEIRO S.A. - PETROBRAS-14.35%64 257
SAUDI ARABIAN OIL COMPANY1.84%1 916 006
ROYAL DUTCH SHELL PLC-43.71%135 336
TOTAL SE-26.16%115 117
PETROCHINA COMPANY LIMITED-36.83%112 617
GAZPROM-27.08%57 647