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    PRIO3   BRPRIOACNOR1

PETRO RIO S.A.

(PRIO3)
  Report
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 12/03
21.21 BRL   +1.19%
11/09October 2021 operational data
PU
11/05Energy Up After Jobs Data -- Energy Roundup
DJ
11/05Material fact - albacora divestment process
PU
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Brazil's Petrobras picks PetroRio group as top bidder for Albacora -sources

10/07/2021 | 06:00am EST

Oct 7 (Reuters) - Brazil state oil giant Petrobras has chosen a consortium of PetroRio SA and Cobra, a subsidiary of France's Vinci SA, as the top bidder for its Albacora offshore oilfield, four people with knowledge of the matter said.

The PetroRio-Cobra bid topped a competing offer placed by a consortium composed of private equity firm EIG Global Energy Partners alongside Brazil's Enauta Participacoes SA and 3R Petroleum Oleo e Gas SA, according to the people, who requested anonymity to discuss confidential matters in interviews on Wednesday.

Both consortia also submitted offers for the neighboring Albacora Leste oilfield, Reuters reported in August. The exact values of the bids were unclear, though Petrobras, formally known as Petroleo Brasileiro SA, said in late September that the offers received "could exceed $4 billion for both fields".

Petrobras is currently selling off dozens of assets in a bid to reduce debt and sharpen its focus on a prolific, offshore oil producing area known as the "pre-salt" zone.

Albacora produced 43,000 barrels of oil equivalent per day (boepd), according to documents released by Petrobras when the company launched the sale process in 2020. Albacora Leste produced 34,000 boepd at that time.

Petrobras is now expected to enter into bilateral negotiations for the Albacora field with the consortium led by independent oil producer PetroRio, the sources said.

However, Petrobras has decided to hold a re-bid for Albacora Leste, the people with knowledge of the matter said on Wednesday, effectively scuttling the results of the original bidding round for that field.

Reuters was not able to determine the reasons for the re-bid. Petrobras has previously held new bidding rounds for assets when the offers submitted in the original round were very similar in value.

3R and EIG declined to comment. No other party immediately responded to a request for comment. (Reporting by Gram Slattery and Carolina Mandl; Additional reporting by Marta Nogueira; Editing by Kenneth Maxwell)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
3R PETROLEUM ÓLEO E GÁS S.A. 6.37% 31.22 End-of-day quote.-16.08%
ENAUTA PARTICIPAÇÕES S.A. -2.32% 13.5 End-of-day quote.13.92%
EURO / BRAZILIAN REAL (EUR/BRL) 0.11% 6.3953 Delayed Quote.0.68%
LONDON BRENT OIL -0.84% 69.87 Delayed Quote.36.29%
PETRO RIO S.A. 1.19% 21.21 End-of-day quote.51.09%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS 1.41% 28.76 End-of-day quote.1.48%
VINCI -1.64% 85.32 Real-time Quote.6.61%
WTI -1.39% 66.387 Delayed Quote.37.48%
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Financials
Sales 2021 4 046 M 716 M 716 M
Net income 2021 1 368 M 242 M 242 M
Net cash 2021 1 208 M 214 M 214 M
P/E ratio 2021 13,0x
Yield 2021 0,47%
Capitalization 17 801 M 3 148 M 3 149 M
EV / Sales 2021 4,10x
EV / Sales 2022 3,15x
Nbr of Employees 82
Free-Float 66,3%
Chart PETRO RIO S.A.
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Technical analysis trends PETRO RIO S.A.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Last Close Price 21,21 BRL
Average target price 27,93 BRL
Spread / Average Target 31,7%
EPS Revisions
Managers and Directors
Roberto Bernardes Monteiro Chief Executive Officer, Director & IR Director
Milton Salgado Rangel Neto Chief Financial Officer
Emiliano Fernandes Lourenšo Gomes Co-Chairman & Legal Director
Nelson de Queiroz Sequeiros Tanure Co-Chairman
Francisco Francilmar Fernandes Chief Operations Officer
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