Petrobras reaches new record market value: R$ 552 billion

Petrobras Agency - Among the positive milestones it has achieved in its operations, Petrobras reached a historic record in the financial market this Thursday (February 1st). The company registered the highest value of its shares and market capitalization ever. PETR3 closed the day at R$ 42,96 and PETR4 at R$ 41,57. The company's market capitalization reached R$ 552 billion, surpassing the previous week's mark, highlighting its prominent position and robustness in the sector.

Petrobras' president, Jean Paul Prates, states that the company's record valuation crowns the work done throughout the first year of the new management, which began in January 2023.  

“We are very pleased with the successive market value records. This record, as well as the others that Petrobras has achieved in 2023, is a consequence of the resumption of investments that the new management has carried out in the last year. We innovated by rewarding our shareholders through the share buyback program and presented a robust strategic plan, with increased investments in CAPEX and projects for a profitable energy transition, generating long-term value. Focused on capital discipline and debt control, our new commercial strategy has brought back flexibility, price competitiveness and stability, always maintaining constantly growing production. The Petrobras that Brazilians are proud of and the market admires is back,” says Jean.

In addition to being a historic record for Petrobras, the market value and share price achieved also demonstrate investors' confidence in the company's future and its ability to generate significant returns.

Petrobras' Chief Financial Officer and Investor Relations Director, Sérgio Leite, emphasizes that the strong relationship with public and private shareholders – built on transparency in the presentation of strategic planning and decisions, and on the strengthening of governance – was fundamental to the company's record performance. Another key factor highlighted by the director was the dedication of Petrobras employees to the integrated execution of corporate strategies. 

“The involvement and synergy between the teams drive Petrobras to achieve this collective success. The record share value reinforces the company's commitment to generating value for shareholders, customers, employees, and society as a whole. Petrobras remains committed to its mission of providing energy safely, responsibly, and sustainably, maintaining its leading position in the global market,” concluded the Chief Financial Officer and Investor Relations Officer, Sérgio Leite.