Track market-moving stories before they get noisy

In the latest close session, Petrobras (PBR - Free Report) was up +2.34% at $26.22. The stock exceeded the S&P 500, which registered a loss of 0.52% for the day. Elsewhere, the Dow saw a downswing of 1.24%, while the tech-heavy Nasdaq depreciated by 0.21%.

Prior to today's trading, shares of the oil and gas company had gained 22.94% outpaced the Oils-Energy sector's gain of 5.63% and the S&P 500's loss of 1.21%.

Investors will be eagerly watching for the performance of Petrobras in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 10, 2026. It is anticipated that the company will report an EPS of $1.21, marking a 47.56% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $31.84 billion, reflecting a 35.62% rise from the equivalent quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.99 per share and revenue of $120.93 billion, indicating changes of +113.93% and +35.58%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for Petrobras. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 24.53% upward. Petrobras presently features a Zacks Rank of #3 (Hold).

In terms of valuation, Petrobras is currently trading at a Forward P/E ratio of 4.28. Its industry sports an average Forward P/E of 7.69, so one might conclude that Petrobras is trading at a discount comparatively.

Also, we should mention that PBR has a PEG ratio of 2.29. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 0.7.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

Key Takeaways Framo plans to expand its Rio facility as installed pumps in Brazil are projected to exceed 1,500 by 2028.The agreement covers inspections, maintenance and training for four types of critical pumping systems.Framo plans to expand its Rio facility as installed pumps in Brazil are projected to exceed 1,500 by 2028.
Petrobras (PBR - Free Report) has entered into a four-year agreement with Norwegian pump specialist Framo to service pumping equipment installed across approximately 30 floating production, storage and offloading (“FPSO”) vessels. The arrangement includes equipment inspections, maintenance work and training for systems used in seawater lifting, firefighting, crude oil handling and water injection. According to Framo, the deal is the largest service contract of its kind in the company's history.

This agreement gives Petrobras a long-term arrangement for maintaining essential equipment at its offshore facilities. This also reflects the importance of specialized engineering services as Brazil continues to develop its offshore oil and gas resources.

Petrobras Secures Maintenance Support for Offshore AssetsFPSOs help as offshore production facilities where hydrocarbons are processed, and crude oil is stored before shipment. Their equipment must perform reliably under demanding operating conditions, making the upkeep of critical pumping systems an important part of asset management.

Framo's tasks under the agreement cover four main categories of pumps. Seawater lift equipment supplies water for offshore operations, while firewater pumps serve emergency response requirements. Cargo pumps handle crude oil movements, and water injection systems help maintain pressure within producing reservoirs.

These systems have distinct functions, but their maintenance requirements can overlap in terms of inspection planning, technical expertise and workforce training. By placing the covered services under one agreement, Petrobras can coordinate these activities across its fleet instead of arranging each requirement independently.

A planned maintenance approach can help operators identify equipment defects and schedule corrective work before problems become more disruptive. Training is another component of the arrangement, supporting the skills needed to service specialized pumping equipment.

However, the agreement alone does not confirm that Petrobras will experience fewer production interruptions or lower maintenance expenses. Those outcomes will depend on the quality of execution and the performance of the equipment throughout the contract period.

Framo Builds Capacity for Brazil's Offshore MarketFramo expects the number of its pumps installed in Brazil to exceed 1,500 by 2028. The company attributes the anticipated expansion to additional FPSOs entering the market. This figure represents Framo's projection, rather than a confirmed future total.

To accommodate expected service demand, Framo is expanding its maintenance capabilities in Rio de Janeiro with a new facility at Galeão. The planned facility will be used for equipment inspections, maintenance and training. The announcement does not establish an opening date or confirm that the facility is already operating.

Framo has maintained a presence in Brazil since 1995 and operates as part of the Alfa Laval Group. Its experience in the market provides a base for supporting offshore customers as equipment requirements evolve.

The planned facility is relevant because offshore operators need technical support after equipment has been installed. Servicing specialized pumps requires appropriate expertise and coordination with operating schedules. Additional local capacity could make that support easier to access, although the resulting operational benefits have not been quantified.

For Framo, the agreement and facility expansion align with its plans to support a larger installed equipment base. For Petrobras, the arrangement establishes a service relationship with a supplier experienced in the Brazilian offshore market.

Assessing the Agreement's Significance for PetrobrasThe agreement establishes a dedicated service program for pumping equipment across Petrobras’ FPSO fleet. Planned inspections, maintenance and training are expected to improve service coordination and help identify equipment needs.

The financial implications, however, remain unclear. The announcement does not disclose the contract value, expected cost savings or any additional production anticipated from the agreement. There is therefore insufficient information to estimate its effect on Petrobras' revenue, earnings or cash flow.

Investors should also distinguish between a maintenance agreement and a direct production-growth initiative. This contract supports equipment servicing, but it does not announce new reserves, additional production capacity or a specific operating-cost target.

Its longer-term importance will depend on whether Petrobras can translate the maintenance program into measurable operating improvements. Relevant indicators would include equipment availability, maintenance efficiency and any subsequent disclosure of cost savings. Until further details are disclosed, the agreement should be viewed as an effort to strengthen offshore equipment support rather than a direct financial catalyst.

Overall, the deal provides Petrobras with a four-year framework for servicing critical pumping systems, while Framo prepares to support anticipated growth in Brazil. The arrangement strengthens the maintenance structure around Petrobras' offshore assets, although its direct financial contribution remains unestablished.

PBR's Zacks Rank & Key PicksCurrently, PBR carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector might consider some better-ranked stocks, such as Marathon Petroleum (MPC - Free Report) , Delek US Holdings (DK - Free Report) and Oceaneering International (OII - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Marathon Petroleum is valued at $132.84 billion. The company is a leading U.S. independent refiner, marketer and transporter of petroleum products, with a strong refining footprint and an extensive midstream business. Marathon Petroleum benefits from its integrated operations, strategic refining assets and diversified earnings streams across the energy value chain.

Delek US Holdings is valued at $4.56 billion. It is a diversified downstream energy company engaged in petroleum refining, renewable fuels, asphalt production and logistics operations. Delek US Holdings operates multiple refineries in the United States and is committed to delivering safe, reliable energy while investing in cleaner energy initiatives.

Oceaneering International is valued at $4.46 billion. It is a global technology and engineering company. Oceaneering International provides subsea robotics, offshore services, engineered products and advanced solutions to the energy, defense, aerospace and other industries.  

Key Takeaways Petrobras made a second oil discovery at the Morpho well in Brazil's Foz do Amazonas Basin.The deeper find expands Petrobras' understanding of petroleum systems and resource potential in the basin.Petrobras plans three more wells in FZA-M-59, with drilling expected to begin in early 2027. Petróleo Brasileiro S.A. - Petrobras (PBR - Free Report) has made a second oil discovery in the Morpho exploration well in Brazil’s Foz do Amazonas Basin, strengthening the exploration potential of the country’s Equatorial Margin. The discovery was made in block FZA-M-59, where Petrobras is the sole owner.

The Morpho well, also identified as 1-BRSA-1405-APS, is located in ultra-deep waters off Amapá state at a water depth of 2,886 meters. The latest oil-bearing interval was identified as drilling continued into deeper exploratory formations following the initial discovery announced in August 2026.

Deeper Drilling Expands Exploration InsightsThe latest discovery was confirmed through electrical logs, rock evidence and fluid samples collected during drilling. Petrobras said the additional find will help expand its understanding of the petroleum systems and resource potential of the Amazon River Mouth Sedimentary Basin.

The company is continuing to analyze the newly collected material through laboratory studies. The results will be integrated with the broader dataset obtained during the drilling program to support further evaluation of the identified formations. Petrobras also said analyses of the initial August discovery have confirmed the presence of good-quality, light oil.

The Morpho well is particularly significant because it represents the first major exploration well drilled in the most promising portion of Brazil’s Equatorial Margin in more than 15 years. The well is located about 175 kilometers off the coast of Amapá.

Three More Wells Planned in FZA-M-59The second discovery could raise expectations for Petrobras’ upcoming exploration campaign in the block. The company plans to drill three contingent wells in FZA-M-59, with operations expected to begin in early 2027.

Brazil’s environmental regulator, IBAMA, approved permits for the three wells in September. Petrobras plans to use the Constellation-operated Amaralina Star drillship for the campaign, although the rig will need to complete hull cleaning after finishing its current work off Brazil’s southeast coast.

The planned wells include the Morpho extension, located slightly northeast of the initial discovery, along with the Crotalus prospect in the northwest portion of the block and the Manga prospect southwest of the original Morpho well.

Petrobras Targets Equatorial Margin GrowthThe FZA-M-59 campaign forms part of Petrobras’ broader effort to explore Brazil’s Equatorial Margin, considered one of the country’s major remaining offshore oil and gas frontiers. Under its 2026-2030 strategic investment plan, Petrobras has allocated $2.5 billion for 15 exploration wells in the region. The company holds interests in 32 Equatorial Margin blocks spanning several offshore basins.

The region is viewed as having geological similarities to prolific petroleum areas off Guyana, Suriname and the west coast of Africa. Brazil’s Mines and Energy Ministry estimates that the country’s portion of the Equatorial Margin could contain as much as 6.2 billion barrels of recoverable reserves.

New Discovery Supports Long-Term Exploration StrategyThe second Morpho discovery provides Petrobras with additional geological information as it assesses the broader resource potential of the Foz do Amazonas Basin. The company said exploration of block FZA-M-59 is consistent with its long-term strategy of replenishing oil and gas reserves through new frontiers while supporting Brazil’s energy needs.

With drilling activities at Morpho still underway and additional wells planned for 2027, the latest discovery adds momentum to Petrobras’ efforts to unlock the resource potential of Brazil’s Equatorial Margin.

PBR’s Zacks Rank & Key PicksHeadquartered in Rio de Janeiro, Petrobras is the largest integrated energy firm in Brazil and one of the largest in Latin America. Currently, PBR has a Zacks Rank #3 (Hold).

Investors interested in the energy sector may consider some top-ranked stocks like Drilling Tools International Corporation (DTI - Free Report) , Forum Energy Technologies, Inc. (FET - Free Report) and Montauk Renewables, Inc. (MNTK - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Drilling Tools International is a global oilfield services provider focused on supplying downhole tools used in horizontal and directional drilling. The Zacks Consensus Estimate for DTI’s 2026 revenues indicates 1.6% year-over-year growth.

Forum Energy is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Zacks Consensus Estimate for FET’s 2026 earnings indicates 536.5% year-over-year growth.

Montauk Renewables is a fully integrated renewable energy company that specializes in the management, recovery and conversion of biogas into renewable energy. The Zacks Consensus Estimate for MNTK’s 2026 earnings indicates 1100% year-over-year growth.

Key Takeaways PBR's P-80 platform has left Singapore and is heading to the Buzios field for 2027 production.PBR expects series-based construction to reduce costs and project risks, and accelerate field development.Buzios set monthly and daily natural gas export records, exceeding 10 million cubic meters per day. Petróleo Brasileiro S.A. – Petrobras’ (PBR - Free Report) P-80 platform, also known as Búzios 9, has left the Tuas Boulevard Yard shipyard in Singapore and is heading toward the Búzios field in Brazil’s pre-salt Santos Basin. The platform is the first of a series of six giant units being developed by Petrobras and is expected to begin production in 2027.

The P-80 is designed to produce up to 225,000 barrels of oil and process 12 million cubic meters of natural gas per day, placing it among the largest units of its kind in the global industry. Its deployment is expected to support further development of the Búzios field, which is Brazil’s largest field in terms of reserves and production.

Advanced Technology Supports EfficiencyAccording to Petrobras’ director of engineering, technology and innovation, Renata Baruzzi, the P-80 combines high production capacity with advanced technologies and digital solutions. These features are intended to enhance operational and energy efficiency.

The platform forms part of Petrobras’ broader strategy of deploying standardized units across its offshore developments. The P-82, which is in the final stages of construction, is next in the series and is also scheduled to start production in 2027.

PBR’s Series Construction to Improve ExecutionPetrobras is using a series-based construction approach for the six platforms to reduce costs and improve shipyard productivity. The company expects the approach to enhance system reliability, reduce project risks and accelerate field development.

Another strategy involves transporting the platforms with their crews already on board, supporting operational readiness as the units move toward deployment.

Earlier in March 2026, Petrobras had announced that it is prioritizing faster ramp-up operations at the P-78 platform, which is already producing, and the P-79 platform, which is nearing the final commissioning phase. A key milestone had already been achieved at P-78, where the company completed the first gas injection just 61 days after first oil production.

Brazilian Shipyards Contribute to ConstructionThe P-80 process modules were manufactured in Brazil at the Seatrium BrasFELS shipyard in Angra dos Reis, while P-82 modules are being produced at the Seatrium Aracruz shipyard in Espírito Santo. The work is contributing to workforce development and employment within Brazil’s shipbuilding industry.

Construction activities also took place in China, Singapore and Indonesia, with the modules subsequently transported to Singapore for completion. Petrobras contracted the platforms under an EPC model, under which the contractor handles engineering, procurement, construction and commissioning until delivery of the units for operation in Brazil.

Búzios Continues to Expand Gas ExportsThe arrival of the P-80 comes as the Búzios field continues to demonstrate strong natural gas production and export capabilities. In August, the field set both monthly and daily records for natural gas exports, exceeding 10 million cubic meters per day on a monthly basis and reaching 14.1 million cubic meters per day on a daily basis.

Petrobras operates Búzios in partnership with CNOOC, CNPC and Pré-Sal Petróleo SA (PPSA). The deployment of the P-80 is expected to add further production and processing capacity as Petrobras continues developing the field.

PBR’s Zacks Rank & Key PicksHeadquartered in Rio de Janeiro, Petrobras is the largest integrated energy firm in Brazil and one of the largest in Latin America. Currently, PBR has a Zacks Rank #3 (Hold).

Investors interested in the energy sector may consider some top-ranked stocks like Delek US Holdings, Inc. (DK - Free Report) , Eni S.p.A. (E - Free Report) and Phillips 66 (PSX - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Brentwood, TN-based Delek US Holdings is an independent refiner, transporter and marketer of petroleum products. The company’s operations are organized into two reportable segments: Refining and Logistics. The Zacks Consensus Estimate for DK’s 2026 earnings indicates 127.7% year-over-year growth.

Eni, based in Rome, Italy, is an integrated energy company. Its upstream operations cover the exploration, development and production of oil and natural gas. The Zacks Consensus Estimate for E’s 2026 earnings indicates 76.9% year-over-year growth.

Based in Houston, TX, Phillips 66 is a diversified and integrated energy company established following the 2012 spin-off of ConocoPhillips' downstream operations. The Zacks Consensus Estimate for PSX’s 2026 earnings indicates 339.1% year-over-year growth.

Key Takeaways Petrobras will not increase its Braskem stake or inject capital unless other shareholders also contribute.Braskem is negotiating with creditors over roughly $11 billion of debt and seeks shareholder funding.Petrobras is balancing its Braskem exposure with exploration opportunities in Brazil and overseas. Petrobras (PBR - Free Report) is taking a cautious approach toward Braskem (BAK - Free Report) as the financially strained petrochemicals producer works to restructure its debt. Petrobras CEO Magda Chambriard said the state-controlled oil company does not currently plan to increase its stake in Braskem or inject additional capital unless other shareholders also contribute.

According to Bloomberg, Chambriard made the comments on the sidelines of the ROG.e oil conference in Rio de Janeiro. Her remarks provide investors with greater clarity on Petrobras’ position as Braskem negotiates with creditors over roughly $11 billion of debt.

The development is important for Petrobras investors because a substantial capital commitment to Braskem could compete with its other investment priorities. By linking any potential contribution to participation from other shareholders, Petrobras is seeking shared financial responsibility for Braskem’s restructuring.

Petrobras Limits Potential Capital CommitmentChambriard said increasing Petrobras’ stake in Braskem is not currently under consideration. She also indicated that Petrobras would not inject capital into the petrochemicals company unless other shareholders do the same.

The position comes as Braskem seeks an agreement with creditors to address its financial obligations. Bloomberg reported that creditors have requested approximately $3 billion of fresh capital from the company’s controlling shareholders as part of the restructuring discussions.

For Petrobras shareholders, the distinction between supporting Braskem operationally and providing substantial fresh capital is significant. Petrobras can remain involved in efforts to improve Braskem’s operations while limiting its direct financial exposure to the troubled petrochemicals business.

This approach also gives Petrobras greater flexibility as it evaluates where to deploy capital across its core exploration and production operations and international growth opportunities.

Braskem Remains Strategically ImportantDespite its cautious stance on additional funding, Braskem remains strategically relevant to the company. Petrobras is a major shareholder of Braskem (about 47% of Braskem's voting capital) and has an established commercial relationship with the petrochemicals producer.

Both companies entered into long-term commercial agreements covering the supply of petrochemical naphtha and other products. These arrangements reinforce the importance of Braskem as a customer and industrial partner, even as the petrochemical company addresses its financial challenges.

Petrobras therefore has an interest in supporting a restructuring that improves Braskem’s financial position without placing an excessive burden on its own balance sheet. A successful restructuring could preserve the value of Petrobras’ existing investment and maintain an important outlet for its feedstock.

Petrobras Has Other Capital PrioritiesThe Braskem situation comes as Petrobras continues to expand its exploration portfolio and pursue opportunities to replenish the oil and gas reserves.

In September, the Brazil's largest oil and gas company signed production-sharing contracts covering eight offshore blocks in Ivory Coast (officially known as Côte d'Ivoire). The company will operate the blocks through Petrobras Netherlands B.V. with a 90% interest, while Côte d’Ivoire’s Petroci Holding will hold the remaining 10%. Petrobras said the move is aligned with its strategy of replacing reserves through exploration in new frontiers in Brazil and abroad.

Petrobras also recently signed a two-year memorandum of understanding (MoU) with Mozambique’s state-owned Empresa Nacional de Hidrocarbonetos, or ENH. The agreement establishes a framework for cooperation in studies, project evaluation, development and commercialization, along with technical knowledge sharing. Importantly, the MoU does not itself represent a commitment to a specific investment or production target.

These developments highlight why capital flexibility remains important. Petrobras is pursuing opportunities across multiple regions while continuing to invest in its core Brazilian portfolio.

Frontier Exploration Adds to Investment NeedsPetrobras is also advancing exploration in Brazil’s Equatorial Margin. The company plans to begin drilling three new wells in the Foz do Amazonas region in January after receiving authorization from Brazil’s environmental agency Ibama. The wells are intended to assess the commercial viability of a recent oil discovery in the area.

The Foz do Amazonas program could become an important part of Petrobras’ longer-term reserve-replacement strategy if exploration confirms commercial resources. However, the company will need to evaluate the results of the new wells before determining the scale of future development spending.

Taken together, Petrobras’ international expansion and frontier exploration plans illustrate the competing demands on its capital. This makes its cautious position on additional Braskem funding particularly relevant for investors.

What It Means for Petrobras InvestorsLimiting a potential capital injection into Braskem could help Petrobras preserve financial resources for exploration, production and reserve replacement. At the same time, Petrobras has a strategic interest in keeping Braskem financially viable because of its ownership position and long-standing commercial relationship.

The key issue is therefore not whether Petrobras will remain involved with Braskem, but how much financial responsibility it ultimately assumes. If other shareholders participate in a restructuring, Petrobras could support the process without carrying the entire funding requirement.

The outcome of negotiations with creditors will remain the primary catalyst. Investors should watch the final restructuring proposal, the amount of new capital requested from shareholders and the response from Braskem’s creditors.

For Petrobras, maintaining financial flexibility could become increasingly important as this balances its Braskem exposure with exploration opportunities in Brazil and overseas. The company’s latest comments indicate that it is prepared to participate in Braskem’s restructuring, but does not currently intend to shoulder the financial burden alone.

PBR's Zacks Rank & Key PicksCurrently, PBR and BAK have a Zacks Rank #3 (Hold) each. Braskem SA is a Brazilian petrochemical company that produces thermoplastic resins, chemicals and other petrochemical products for industrial and consumer markets. The company is currently facing financial pressure and working on measures to strengthen its balance sheet and address its debt obligations.

Investors interested in the energy sector might consider some better-ranked stocks, such as Magnolia Oil & Gas Corp (MGY - Free Report) and Delek US Holdings (DK - Free Report) , both sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Magnolia Oil & Gas is valued at $5.79 billion. It is an independent oil and natural gas company focused on the acquisition, development, exploration and production of oil, natural gas and NGLs in South Texas. Magnolia Oil & Gas’ operations are concentrated in the Eagle Ford Shale and Austin Chalk formations across the Karnes and Giddings areas.

Delek US Holdings is valued at $4.42 billion. It is a diversified downstream energy company engaged in petroleum refining, renewable fuels, asphalt production and logistics operations. Delek US Holdings operates multiple refineries in the United States and is committed to delivering safe, reliable energy while investing in cleaner energy initiatives.

Key Takeaways PBR signed PSCs for eight Ivory Coast offshore blocks, taking a 90% working interest and operatorship.PBR is targeting Africa to replenish reserves and diversify its exploration portfolio beyond Brazil.Exploration success remains uncertain, with seismic studies, drilling and commercial discoveries still ahead. Petrobras (PBR - Free Report) is strengthening its international exploration portfolio to replenish oil and gas reserves and expand the production profile. The Brazilian oil and gas company recently signed production-sharing contracts (PSCs) for eight offshore exploratory blocks in Ivory Coast (officially known as Côte d'Ivoire), marking another step in its strategy to pursue promising opportunities along Africa’s Atlantic coast.

The agreements give Petrobras, through its wholly owned subsidiary Petrobras Netherlands B.V. (“PNBV”), a 90% working interest and operatorship in each block. Ivory Coast’s state-owned energy company, PETROCI Holding, will hold the remaining 10% interest. The contracts cover the CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702 offshore blocks.

Petrobras Expands Exploration FootprintThe new PSCs provide Petrobras access to what the company describes as high-potential exploration areas along the African equatorial margin. This move is strategically important because exploration success is essential for replacing reserves as existing fields mature.

Petrobras has considerable experience in deepwater and ultradeepwater exploration, particularly in Brazil’s prolific offshore basins. The company intends to apply this technical expertise to the Ivory Coast acreage, where it sees geological similarities with the Brazilian sedimentary basins. Petrobras president Magda Chambriard said it expects to use technical capabilities to evaluate the exploration potential of the African Atlantic margin.

For investors, the development represents an opportunity for Petrobras to expand its resource base beyond the traditional Brazilian operations. However, the blocks remain in the exploration stage, meaning any potential reserves, production volumes or financial benefits will depend on future seismic studies, drilling results, commercial discoveries and development decisions.

Africa Becomes a Strategic Exploration RegionThe Ivory Coast agreements fit into Petrobras’ broader effort to increase its exposure to new exploration frontiers outside Brazil. In June 2025, the company announced that it had obtained exclusivity to negotiate the acquisition and operatorship of nine offshore exploratory blocks in Ivory Coast. The company ultimately signed contracts for eight blocks.

Petrobras has also been evaluating opportunities elsewhere in Africa. The company has been pursuing exploration opportunities in countries including Ghana, Namibia, São Tomé and Príncipe and South Africa. In February 2026, Petrobras announced the acquisition of a 42.5% interest in Namibia’s offshore Block 2613, where TotalEnergies (TTE - Free Report) holds an equal 42.5% interest and serves as operator.

The expansion is consistent with comments made by Chambriard in 2025. She told Reuters that Petrobras intended to make Africa the main exploration region outside Brazil as it looked to replenish reserves and support the longer-term production outlook.

Reserve Replacement Remains ImportantThe latest Ivory Coast agreements come as Petrobras focuses on maintaining its reserve base through exploration in both established and emerging regions. The company’s strategy calls for pursuing new frontiers in Brazil and abroad to diversify its exploration portfolio and support the long-term sustainability of the business.

For an integrated oil and gas company, reserve replacement is an important consideration because production from existing assets naturally declines over time. New discoveries can potentially provide additional resources that may eventually be developed into producing assets.

Petrobras’ strong position in offshore exploration could provide an advantage as it evaluates the Ivory Coast acreage. Its experience in complex offshore environments may also help the company assess prospects and determine whether discoveries can be developed economically.

However, investors should recognize that exploration projects typically involve significant upfront spending and uncertain outcomes. A large exploration position does not automatically translate into commercial reserves or future production.

What Investors Should WatchThe next major catalysts will likely come from Petrobras’ exploration activities and any updates regarding seismic surveys, drilling plans and potential discoveries in the eight blocks. Investors should also monitor the company’s capital allocation as it balances international exploration with the large Brazilian offshore portfolio.

The 90% interest gives Petrobras substantial control over the exploration program but also means that it will bear a large share of the associated exploration costs and risks. PETROCI’s 10% participation provides a local partner, while Petrobras retains operatorship of the blocks.

The company’s growing African portfolio could eventually provide additional sources of reserves and production. Nevertheless, the financial impact of the Ivory Coast agreements is unlikely to be immediate because the assets are still at the exploratory stage.

Bottom LinePetrobras’ signing of eight PSCs in Ivory Coast expands its international exploration footprint. This move reinforces Africa’s growing role in the company’s long-term strategy. The 90% operating interest gives Petrobras significant control over the blocks, while the location along the African equatorial margin provides exposure to a frontier region that it considers highly prospective.

The development is strategically relevant for Petrobras as it seeks to replenish oil and gas reserves and diversify the exploration portfolio. At the same time, investors should keep in mind that exploration success is uncertain and that meaningful production and cash-flow contributions, if any, would likely require successful discoveries and subsequent development. Therefore, the key factor to watch is whether Petrobras can convert its expanded African exploration position into commercially viable discoveries over the coming years.

PBR's Zacks Rank & Key PicksCurrently, PBR has a Zacks Rank #3 (Hold), while TotalEnergies carries a Zacks Rank #2 (Buy).

TotalEnergies is a global integrated energy company with operations spanning oil, natural gas, LNG, refining and renewable power. The company’s diversified portfolio and growing focus on LNG and low-carbon energy support its strategy to expand across the global energy market.

Investors interested in the energy sector might consider some better-ranked stocks, such as Magnolia Oil & Gas Corp (MGY - Free Report) and Delek US Holdings (DK - Free Report) , both sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Magnolia Oil & Gas is valued at $6.18 billion. It is an independent oil and natural gas company focused on the acquisition, development, exploration and production of oil, natural gas and NGLs in South Texas. Magnolia Oil & Gas’ operations are concentrated in the Eagle Ford Shale and Austin Chalk formations across the Karnes and Giddings areas.

Delek US Holdings is valued at $4.85 billion. It is a diversified downstream energy company engaged in petroleum refining, renewable fuels, asphalt production and logistics operations. Delek US Holdings operates multiple refineries in the United States and is committed to delivering safe, reliable energy while investing in cleaner energy initiatives.

Key Takeaways Petrobras received 2.6 billion reais in June diesel subsidy payments under two government measures.The latest payments lift Petrobras' cumulative subsidy receipts to approximately 9.5 billion reais.Petrobras reported first-half profit of $16.6 billion, up 55.3%, while revenues rose 35.7% to $57.1 billion. Petrobras (PBR - Free Report) recently received new payments under Brazil’s Economic Subvention Program for diesel oil commercialization, providing another cash inflow to the integrated energy company. The latest installments totaled approximately 2.6 billion Brazilian reais, or about $434 million, based on the figures provided.

According to Petrobras, the payments relate to diesel sales made during the first and second halves of June. The company received 643.8 million reais for diesel sales from June 1 through June 15 under Provisional Measure No. 1,358. A second installment of 1.9 billion reais was received for sales between June 16 and June 30 under Provisional Measure No. 1,363.

The latest payments bring the cumulative amount received by Petrobras under Brazil’s diesel, gasoline and liquefied petroleum gas subsidy programs to approximately 9.5 billion reais.

Government Subsidy Supports Cash InflowsFor investors, the latest payments highlight the role of government subsidy programs in Petrobras’ cash flows. The company is receiving compensation for eligible fuel sales, with the latest installments covering a clearly defined period of diesel commercialization.

The June payments are particularly notable because the second installment was significantly larger than the first. Petrobras received 1.9 billion reais for the June 16-30 period, compared with 643.8 million reais for June 1-15. Together, the two payments represent a substantial additional inflow for the company.

The cumulative 9.5-billion-real figure also demonstrates the scale of compensation Petrobras has received through the subsidy programs. However, investors should distinguish these government payments from underlying operating earnings because subsidy receipts are linked to specific government programs and eligible fuel sales.

Strong Financial Performance Provides Additional SupportThe latest subsidy payments come as Petrobras continues to report strong financial results. In its latest earnings presentation in August, the company reported a first-half profit of $16.6 billion, representing a 55.3% year-over-year increase. Revenues reached $57.1 billion, up 35.7% from the year-ago period.

The remarkable improvement in earnings and revenues provides a favorable backdrop for the company as it continues to benefit from integrated operations. The additional subsidy compensation further strengthens the cash inflow picture, although investors should evaluate the payments separately from the company’s core operating performance.

Petrobras’ ability to generate significant earnings while also receiving compensation under government fuel-support programs could remain an important consideration for investors assessing its financial performance.

What Investors Should WatchInvestors should continue monitoring Petrobras’ future subsidy payments, operating performance and overall financial results. The latest disclosure confirms that the company continues to receive compensation under Brazil’s Economic Subvention Program for diesel, while cumulative receipts across the diesel, gasoline and LPG programs have reached approximately 9.5 billion reais.

At the same time, the company’s first-half financial performance points to strong year-over-year growth in both profit and revenues. The combination of higher earnings and additional government compensation provides a constructive backdrop for Petrobras.

However, the sustainability of future subsidy-related cash inflows will depend on the continuation and terms of the relevant government programs. Investors should therefore focus primarily on Petrobras’ underlying operating performance while treating subsidy receipts as an additional factor supporting its financial position.

Overall, the latest 2.6-billion-real payment is a positive development for Petrobras. The company has now accumulated approximately 9.5 billion reais in compensation under Brazil’s fuel subsidy programs, while its strong first-half earnings performance provides an additional source of financial strength. Investors should watch subsequent subsidy payments and upcoming operating results for further indications of the company’s financial trajectory.

PBR's Zacks Rank & Key PicksCurrently, PBR has a Zacks Rank #3 (Hold).

Investors interested in the energy sector might consider some better-ranked stocks, such as Par Pacific (PARR - Free Report) , Delek US Holdings (DK - Free Report) , both sporting a Zacks Rank #1 (Strong Buy), and Oceaneering International (OII - Free Report) , carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Par Pacific is valued at $4.24 billion. It is a diversified energy company that owns and operates petroleum refineries, logistics assets and retail fuel businesses across the United States. Par Pacific focuses on refining, transporting and marketing fuel products while serving regional markets with reliable energy solutions.

Delek US Holdings is valued at $4.66 billion. It is a diversified downstream energy company engaged in petroleum refining, renewable fuels, asphalt production and logistics operations. Delek US Holdings operates multiple refineries in the United States and is committed to delivering safe, reliable energy while investing in cleaner energy initiatives.

Oceaneering International is valued at $5.08 billion. It is a global technology and engineering company. Oceaneering International provides subsea robotics, offshore services, engineered products and advanced solutions to the energy, defense, aerospace and other industries.  

Brazilian state-run oil firm Petrobras (PETR3.SA) said on Thursday that a package of government ​tax measures will result in a 0.19 real ($0.0372) reduction ‌per liter in gasoline prices for consumers, reversing an earlier announcement that had implied a raise in prices to distributors.

Petrobras initially said late on ​Wednesday it would scrap a 0.44 real-per-liter discount while also ​effectively raising prices, leaving the price to distributors at ⁠3.24 reais per liter.

But the company issued a correction early ​on Thursday to clarify that a fresh government measure would ​actually lower the price of gasoline to distributors at its refineries.

The government said on Wednesday it would cut federal taxes on gasoline imports and sales by ​0.63 real per liter, replacing and expanding a previous cash ​subsidy of 0.44 real per liter.

Petrobras said the tax reduction more than offsets ‌the ⁠end of the discount, resulting in a lower final gasoline price.

"For distributors, the effect will be a reduction of 0.19 real in the perceived price with taxes," Petrobras said.

The gasoline price cut ​comes as President ​Luiz Inacio ⁠Lula da Silva seeks a fourth non-consecutive term in an election with first-round voting scheduled for ​October 4.

The government also announced a diesel subsidy ​initially set ⁠at 1 real per liter, to be added to an existing subsidy.

Petrobras said it will wait for the government to publish the ⁠legal ​acts regulating the new diesel subsidy ​before assessing and implementing it.

($1 = 5.1102 reais)

Key Takeaways Petrobras beat Q2 earnings estimates by 13.2% as revenues jumped 59.8% year over year to $33.61B.Petrobras has about 270,000 barrels per day of remaining ramp-up capacity for the second half of 2026.Refinery utilization hit a record 101.2%, while Petrobras' segment adjusted EBITDA rose to $3.56B. Petróleo Brasileiro S.A. - Petrobras (PBR - Free Report) delivered a second-quarter 2026 earnings beat as record production, higher exports and a sharp rise in Brent prices lifted results. Earnings per ADS reached $1.72 versus the Zacks Consensus Estimate of $1.52, while revenues rose 59.8% year over year to $33.61 billion.

The question now is durability. Production still has room to ramp and refining is operating at record utilization, but a less favorable crude-price backdrop could test how much of the earnings step-up can persist.

PBR's Q2 Beat Came From Output and PricingPetrobras beat the earnings estimate by 13.2%, while revenues topped the $30.83 billion consensus mark by 9%. Adjusted EBITDA excluding one-off events reached $19.96 billion, up 95.1% year over year.

Exploration and Production revenues climbed 58.2% to $22.79 billion. Higher production and Brent prices lifted segment gross profit 72.2% to $13.44 billion.

Petrobras Upstream Momentum Has More Room to RunBrazil oil and natural gas liquids production rose 15.2% year over year to 2.689 million barrels per day. P-79 started three months ahead of the 2026-2030 Business Plan, while P-78 and Alexandre de Gusmão continued ramping.

Image Source: Petrobras

Petrobras identified about 270,000 barrels per day of remaining ramp-up capacity for the second half of 2026. Chevron Corporation (CVX - Free Report) also posted record U.S. upstream output of nearly 2.1 million oil-equivalent barrels per day in the second quarter.

PBR Refining Gains Add a Second Earnings EngineRefinery utilization reached a record 101.2%, while oil-products output rose 10.9% year over year to 1.918 million barrels per day. Oil-products imports fell to 67,000 barrels per day, the lowest quarterly volume on record.

Refining, Transportation and Marketing revenues advanced 63.4% to $32.35 billion. Segment adjusted EBITDA increased to $3.56 billion from $1.08 billion a year earlier.

Petrobras Cash Flow Must Fund Growth and DebtOperating cash flow reached $12.25 billion, while capital expenditures totaled $5.29 billion. About 82% of quarterly capital spending went to Exploration and Production projects.

Gross debt ended June at $70.81 billion and net debt at $60.39 billion, while net debt to trailing 12-month adjusted EBITDA improved to 1.14 times from 1.43 times. Exxon Mobil Corporation (XOM - Free Report) reported $23.6 billion of second-quarter cash flow from operating activities, providing another large-cap reference point for sector cash generation.

Image Source: Petroleo Brasileiro S.A. - Petrobras

PBR Earnings Still Hinge on Crude PricesBrent averaged $104.52 per barrel in the second quarter, up from $80.61 in the first. That 29.7% sequential increase amplified the benefit from higher production and exports.

Management expects Brent to move back toward the assumptions used in Petrobras' strategic plan. If that occurs, higher output and refining efficiency will need to offset some lost price support, making future quarters a clearer test of earnings durability.

PBR's Strong Style Scores Meet a Sell SignalPetrobras has an operational path to carry some second-quarter gains forward through platform ramp-ups and record refining activity. Still, the current earnings level also reflects an oil-price environment that management does not expect to persist.

PBR currently carries a Zacks Rank #4 (Sell). It also has a Value Score of A, Growth Score of A, Momentum Score of A and VGM Score of A. Those Style Scores indicate favorable characteristics across the four measures, but they complement the Zacks Rank rather than override it. With a #4 Rank, the near-term estimate-revision signal remains the more cautious indicator.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Brazil's state-run oil company, Petrobras (PETR3.SA), said ​on Friday it had submitted an expression ‌of interest for exploration blocks in Ghana and begun negotiations.

The West African nation's Ministry of Energy and Green ​Transition had approved its application to negotiate ​exploration contracts for four offshore blocks in ⁠the Keta Basin, Petrobras said.

Sylvia Anjos, Petrobras' head ​of exploration and production, told Reuters that the ​Ghana blocks are geologically similar to Brazil's Equatorial Margin, which is considered the country's most promising oil frontier.

The oil ​major plans to make Africa its main exploratory ​region outside of Brazil, Petrobras Chief Executive Magda Chambriard told Reuters ‌last ⁠year.

Beyond Ghana, Petrobras has been looking in to several African countries for opportunities, including Sao Tome and Principe, Namibia, Ivory Coast and South Africa.

The ​move is ​aligned with ⁠Petrobras' strategy of replenishing oil and gas reserves through exploration in new frontier ​areas in Brazil and abroad, the ​company ⁠said in a securities filing. It added that it is evaluating opportunities to diversify its exploration portfolio ⁠and ​support long-term growth.

Key Takeaways Petrobras confirmed hydrocarbons in the Morpho well, an exploration milestone in Block FZA-M-59.Further studies must assess the accumulation's size, quality and potential for commercial development.Petrobras' 100% ownership of FZA-M-59 gives it full control over the next exploration and evaluation stage. Petrobras (PBR - Free Report) , a Brazil-based integrated energy company, has confirmed the presence of hydrocarbons in the Morpho exploratory well in Block FZA-M-59, marking an important development in exploration along Brazil’s equatorial margin. The discovery was made in deep waters off the coast of Amapá, within the Amazon River Mouth sedimentary basin, an area being evaluated for its potential to support future oil and natural gas resources.

The Morpho well, officially identified as 1-BRSA-1405-APS, is located about 175 kilometers off the coast of Amapá at a water depth of approximately 2,886 meters. The result provides Petrobras with additional geological information as it evaluates the hydrocarbon potential of one of Brazil’s frontier offshore regions.

Petrobras Confirms Hydrocarbons in Block FZA-M-59Petrobras operates Block FZA-M-59 and holds a 100% working interest. The company acquired the block during Brazil’s 11th Bidding Round in 2013 under the concession regime administered by the National Agency of Petroleum, Natural Gas and Biofuels.

The identification of hydrocarbons is an encouraging exploration result, but it does not yet represent a declaration of commercial reserves. Petrobras must conduct additional geological and technical studies to determine the nature, size and quality of the accumulation and assess whether it can support future development.

The finding nevertheless strengthens the company’s exploration portfolio and provides another data point for evaluating the petroleum system of the Amazon River Mouth basin.

Morpho Well Highlights Brazil’s Equatorial Margin PotentialThe Morpho well was drilled in an exceptionally deepwater environment, with the seabed nearly 2,900 meters below sea level. Its offshore location underscores the technical complexity involved in exploring Brazil’s equatorial margin.

Beyond the hydrocarbons encountered, the well is expected to generate geological information that could help Petrobras better understand subsurface structures, reservoir properties and the region’s broader petroleum system. Such data can be valuable when determining whether additional prospects warrant exploration.

The Amazon River Mouth basin is part of Brazil’s equatorial margin, where companies have shown growing interest in identifying new oil and gas resources. For Petrobras, exploration success in this area could help expand its understanding of a relatively less-developed offshore frontier.

Exploration Supports Petrobras’ Reserve StrategyThe discovery aligns with Petrobras’ broader strategy of maintaining its resource base through continued exploration. As producing fields mature and natural declines affect output over time, successful exploration becomes important for identifying resources that could eventually replace produced reserves.

Petrobras has extensive experience operating in deepwater and ultra-deepwater environments, particularly in Brazil. That expertise provides an operational advantage as the company evaluates technically challenging frontier opportunities such as FZA-M-59.

However, the commercial significance of the Morpho well will depend on the results of subsequent evaluation. Petrobras will need to determine the extent of the accumulation, reservoir characteristics and recoverability before establishing its development potential.

Implications for Brazil’s Energy OutlookPetrobras has linked exploration in frontier areas with Brazil’s objective of maintaining energy security while advancing its energy transition. The company continues to view oil and natural gas as important components of the country’s energy system even as renewable and lower-carbon sources expand.

A successful exploration program could provide Brazil with additional resource options over the longer term. It could also generate economic benefits through investments in offshore infrastructure, specialized services, technology and potential future production.

Any development arising from the Morpho discovery would, however, remain subject to technical and economic assessments as well as environmental and regulatory requirements.

What the Morpho Discovery Means for PetrobrasThe immediate significance of the Morpho well is the confirmation that hydrocarbons are present in a previously less-developed area of the equatorial margin. This gives Petrobras additional geological insight while supporting its efforts to evaluate new offshore resources.

The 100% ownership and operatorship of Block FZA-M-59 also give Petrobras full control over the next stage of exploration and evaluation. The company can incorporate the well results with geological and geophysical data from the surrounding area to improve its assessment of the basin.

The discovery should therefore be viewed as an important exploration milestone rather than a completed development project. Further appraisal work will determine whether the hydrocarbons encountered can ultimately translate into commercially recoverable resources.

For Petrobras, the Morpho result reinforces the potential strategic value of Brazil’s equatorial margin and the role of frontier exploration in sustaining its long-term resource base. For the country, it adds to the geological understanding of an emerging offshore region that could become increasingly important to Brazil’s future oil and gas supply.

PBR's Zacks Rank & Key PicksCurrently, PBR has a Zacks Rank #4 (Sell).

Investors interested in the energy sector might consider some better-ranked stocks, such as Par Pacific (PARR - Free Report) and Delek US Holdings (DK - Free Report) , both sporting a Zacks Rank #1 (Strong Buy), and Oceaneering International (OII - Free Report) , carrying a Zacks Rank #2 (Buy) at present. You can seethe complete list of today’s Zacks #1 Rank stocks here.

Par Pacific is valued at $4.02 billion. It is a diversified energy company that owns and operates petroleum refineries, logistics assets and retail fuel businesses across the United States. Par Pacific focuses on refining, transporting and marketing fuel products while serving regional markets with reliable energy solutions.

Delek US Holdings is valued at $4.01 billion. It is a diversified downstream energy company engaged in petroleum refining, renewable fuels, asphalt production and logistics operations. Delek US Holdings operates multiple refineries in the United States and is committed to delivering safe, reliable energy while investing in cleaner energy initiatives.

Oceaneering International is valued at $5.20 billion. It is a global technology and engineering company. Oceaneering International provides subsea robotics, offshore services, engineered products and advanced solutions to the energy, defense, aerospace and other industries.

By Reuters

August 7, 20264:13 PM UTCUpdated 2 hours ago

A view shows the logo of Brazilian state-run oil firm Petrobras in Rio de Janeiro, Brazil June 5, 2025. REUTERS/Ricardo Moraes Purchase Licensing Rights, opens new tab

CompaniesRIO DE JANEIRO, Aug 7 (Reuters) - Brazil's state-run ​oil firm Petrobras (PETR3.SA), opens new tab ‌will "very likely" exceed its forecast for ​oil production ​in 2026, CEO Magda ⁠Chambriard told ​analysts during an earnings ​call on Friday.

Chambriard said oil production for ​the second ​quarter was 200,000 barrels per ‌day ⁠above the company's goal. For the year so ​far, ​the ⁠firm has produced on average ​2.6 million ​bpd, ⁠over its 2.5 million bpd ⁠projection.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

Reporting ​by Fabio ​Teixeira and Marta Nogueira; Editing ​by Nia Williams

Our Standards: The Thomson Reuters Trust Principles., opens new tab

A view shows the logo of Brazilian state-run oil firm Petrobras in Rio de Janeiro, Brazil June 5, 2025. REUTERS/Ricardo Moraes Purchase Licensing Rights, opens new tab

CompaniesRIO DE JANEIRO, Aug 4 (Reuters) - Brazil's Petrobras (PETR3.SA), opens new tab is reassessing a major natural gas infrastructure investment in Brazil amid regulatory uncertainty surrounding a proposed ​government program that could also impact a project by Norway's Equinor (EQNR.OL), opens new tab, sources told ‌Reuters.

The proposal led Petrobras to halt studies for a planned $1 billion gas pipeline linked to its deep waters project in Brazil's northeastern Sergipe state, said three sources.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

Equinor's Raia project in the Campos Basin, expected ​to start operating in 2028, could also be impacted if the program is ​enacted, said an industry source.

The government proposal, which Brazil's energy regulator ANP ⁠is expected to discuss on Friday, would require large producers to make part of ​their gas available to third parties via auctions, in an effort to boost competition and ​lower prices.

Details of ANP's draft regulation are set to be unveiled on Friday, when the regulatory body opens a period for consultation with stakeholders, after which ANP's board of directors will hold a vote. ​Implementation could happen as soon as next year, after a final version is reached.

"Who would ​authorize a $1 billion pipeline investment without assurances that their rights are protected?" said a source, who requested ‌anonymity ⁠because the discussions are sensitive.

Petrobras did not reply to a request for comment.

Equinor said regulatory predictability and stable rules are essential for investments requiring billions of dollars and development timelines exceeding a decade.

The Petrobras pipeline is intended to transport gas from two planned floating production ​units in Sergipe to ​shore. Petrobras expects ⁠the units to process up to 22 million cubic meters of gas and 240,000 barrels of oil per day, with first oil ​expected in 2030.

Equinor's Raia project is designed to produce 16 million ​cubic meters of ⁠gas per day, meeting roughly 15% of Brazilian demand, and includes a pipeline to Macae in Rio de Janeiro state.

Keeping gas prices low for consumers and industry has been a major ⁠concern ​of President Luiz Inacio Lula da Silva's administration.

The sources ​said the proposal would not increase overall gas supply, but would merely redistribute volumes among market participants while creating ​uncertainty over project returns.

Reporting by Rodrigo Viga Gaier and Marta Nogueira, writing by Fabio Teixeira;

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Marta Nogueira is a correspondent in Rio de Janeiro, covering Brazil’s oil and mining sectors and their impact on the economy, the environment, and people’s lives. She has been with Reuters since 2014, reporting on major developments in energy and natural resources, including Brazil’s energy policy, commodity markets, and environmental challenges tied to resource extraction. Previously, she worked at Brazilian newspapers Valor Economico and Jornal do Brasil.

In the latest close session, Petrobras (PBR - Free Report) was up +2.88% at $18.59. This change outpaced the S&P 500's 1.52% loss on the day. Meanwhile, the Dow lost 2.19%, and the Nasdaq, a tech-heavy index, lost 1.74%.

Shares of the oil and gas company have appreciated by 11.82% over the course of the past month, outperforming the Oils-Energy sector's gain of 4.07%, and the S&P 500's gain of 1.92%.

Market participants will be closely following the financial results of Petrobras in its upcoming release. The company plans to announce its earnings on August 6, 2026. In that report, analysts expect Petrobras to post earnings of $1.35 per share. This would mark year-over-year growth of 110.94%. Simultaneously, our latest consensus estimate expects the revenue to be $33.44 billion, showing a 58.94% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $4.28 per share and a revenue of $116.34 billion, demonstrating changes of +52.86% and +30.44%, respectively, from the preceding year.

Investors might also notice recent changes to analyst estimates for Petrobras. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 9.33% downward. Petrobras is currently a Zacks Rank #5 (Strong Sell).

With respect to valuation, Petrobras is currently being traded at a Forward P/E ratio of 4.23. For comparison, its industry has an average Forward P/E of 8.54, which means Petrobras is trading at a discount to the group.

Meanwhile, PBR's PEG ratio is currently 0.8. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 0.62.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 226, placing it within the bottom 9% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

In the latest trading session, Petrobras (PBR - Free Report) closed at $18.77, marking a -1.21% move from the previous day. This change lagged the S&P 500's 0.05% gain on the day. Meanwhile, the Dow experienced a rise of 0.46%, and the technology-dominated Nasdaq saw a decrease of 0.64%.

The oil and gas company's shares have seen an increase of 15.01% over the last month, surpassing the Oils-Energy sector's gain of 6.52% and the S&P 500's gain of 0.61%.

The investment community will be paying close attention to the earnings performance of Petrobras in its upcoming release. The company is slated to reveal its earnings on August 6, 2026. In that report, analysts expect Petrobras to post earnings of $1.35 per share. This would mark year-over-year growth of 110.94%. Meanwhile, our latest consensus estimate is calling for revenue of $33.44 billion, up 58.94% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.28 per share and revenue of $116.34 billion, indicating changes of +52.86% and +30.44%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Petrobras. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 9.33% downward. Petrobras is currently sporting a Zacks Rank of #5 (Strong Sell).

Investors should also note Petrobras's current valuation metrics, including its Forward P/E ratio of 4.44. This signifies a discount in comparison to the average Forward P/E of 8.99 for its industry.

Meanwhile, PBR's PEG ratio is currently 0.84. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. PBR's industry had an average PEG ratio of 0.67 as of yesterday's close.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 235, placing it within the bottom 5% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

Key Takeaways Petrobras completed the Block 3 deal and became the operator with a 75% participating interest.PBR will lead seismic studies, geological analysis and future exploration planning for Block 3.Petrobras sees Block 3 as part of its strategy to pursue long-term reserve growth internationally. Petrobras (PBR - Free Report) has officially completed the acquisition of the interest in operatorship of Block 3, an offshore exploration block located in the waters of São Tomé and Príncipe, Africa. The transaction marks another strategic milestone in the company's international exploration efforts, reinforcing its commitment to identifying high-potential oil and gas opportunities beyond Brazil.

With the acquisition finalized, Petrobras strengthens its role in one of West Africa's emerging exploration regions. The company will be able to evaluate new hydrocarbon prospects through its extensive offshore expertise. The development aligns with the company's broader objective of securing future energy resources and maintaining a balanced exploration portfolio.

Petrobras Takes Control of the Block 3 ConsortiumThe completion of the transaction results in a new consortium structure for Block 3. Brazil's largest oil and gas company has assumed the role of operator and now holds a 75% participating interest, giving it responsibility for managing all exploration activities and future operational decisions.

The remaining ownership is shared between Oranto, which holds a 15% stake, and the National Petroleum Agency of São Tomé and Príncipe, which retains the remaining 10% interest. This partnership combines Petrobras' technical capabilities with regional participation, creating a collaborative framework for advancing exploration in the offshore block.

As operator, Petrobras will oversee exploration planning, geological studies, seismic interpretation, environmental management and any future drilling programs undertaken within the concession area.

Why Block 3 Matters in West Africa's Energy LandscapeThe offshore basin surrounding São Tomé and Príncipe has attracted increasing attention from international energy companies over the past several years. Located within the Gulf of Guinea, the region shares geological characteristics with neighboring offshore provinces that have produced significant oil discoveries.

Although exploration activity remains at an earlier stage than in more established African producing regions, the basin offers considerable upside potential. Modern seismic technology and improved geological understanding continue to increase confidence in identifying commercially viable hydrocarbon systems across the area.

For Petrobras, entering Block 3 provides exposure to a frontier basin where successful exploration could unlock substantial long-term opportunities.

Leveraging Petrobras' Offshore Exploration ExpertisePetrobras has built a global reputation for developing complex offshore oil and gas projects, particularly in deepwater and ultra-deepwater environments. Decades of technological innovation have enabled the company to become one of the industry's leaders in offshore exploration and production.

Its experience includes advanced seismic imaging, reservoir evaluation, subsea engineering, floating production systems and high-efficiency drilling operations. These capabilities will play an important role in assessing the geological potential of Block 3.

The company's technical knowledge also supports efficient project planning by integrating geological interpretation with operational execution, helping reduce uncertainty during the exploration phase.

Supporting Reserve Growth Through International ExplorationMaintaining a healthy reserve base is essential for any integrated energy company seeking sustainable production over the coming decades. As producing fields mature, replacing reserves through new discoveries becomes increasingly important.

The Block 3 acquisition contributes to Petrobras' strategy of pursuing exploration opportunities capable of supporting future reserve additions. Rather than relying solely on existing producing assets, the company continues to evaluate frontier regions that offer meaningful long-term potential.

International projects complement Petrobras' domestic portfolio by providing access to diverse geological environments and expanding its inventory of exploration opportunities.

Expanding Petrobras' Global FootprintAlthough Brazil remains Petrobras' primary operating market, selective international expansion allows it to apply technical expertise in promising offshore regions around the world.

Africa continues to present attractive exploration opportunities due to its diverse geological basins and growing investment interest. By increasing its presence in São Tomé and Príncipe, Petrobras strengthens international portfolio while gaining access to an area with significant exploration potential.

This measured expansion strategy enables the company to diversify its asset base without compromising the disciplined investment philosophy.

What Comes Next for Block 3With the acquisition complete, Petrobras is expected to begin detailed technical evaluations of Block 3. The next phases will likely include seismic data interpretation, geological modeling, prospect identification and exploration planning aimed at determining the block's commercial potential.

If exploration results prove encouraging, future activities could progress toward exploratory drilling and resource appraisal. Each stage will be supported by technical analysis designed to improve understanding of the basin and identify prospects with the highest probability of success.

The timeline for these activities will depend on regulatory approvals, operational planning and exploration findings.

Petrobras Reinforces Its Long-Term Growth StrategyThe completion of the Block 3 acquisition represents more than an ownership transaction — this reflects Petrobras' continued commitment to expanding its exploration opportunities through carefully selected international investments. By becoming the operator with a 75% interest, the company gains greater control over exploration activities in one of Africa's promising offshore regions while leveraging decades of offshore expertise.

As Petrobras advances technical studies and exploration planning, Block 3 has the potential to become an important component of the company's future reserve growth strategy. Combined with its strong operational capabilities, disciplined investment approach and collaborative partnerships, this acquisition further strengthens Petrobras' position as a leading global offshore energy company focused on sustainable long-term development.

PBR's Zacks Rank & Key PicksCurrently, PBR has a Zacks Rank #5 (Strong Sell).

Investors interested in the energy sector might consider some better-ranked stocks, such as Par Pacific (PARR - Free Report) , Paramount Resources (PRMRF - Free Report) , both sporting a Zacks Rank #1 (Strong Buy), and Cenovus Energy (CVE - Free Report) , carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Par Pacific is valued at 3.3 billion. It is an energy company that owns and operates refining, logistics and retail assets. Par Pacific operates across Hawaii, the Pacific Northwest and the Rocky Mountain region.

Paramount Resources is valued at $2.9 billion. It is a Canadian energy producer focused on the exploration, development and production of natural gas, crude oil and natural gas liquids. Paramount Resources operates in Western Canada.

Cenovus Energy is valued at $49.12 billion. It is an integrated Canadian energy company engaged in oil sands production, conventional oil and natural gas development, refining and downstream operations. Cenovus Energy operates across North America.

By Reuters

July 7, 20269:15 PM UTCUpdated 24 mins ago

A view shows the logo of Brazilian state-run oil firm Petrobras in Rio de Janeiro, Brazil June 5, 2025. REUTERS/Ricardo Moraes Purchase Licensing Rights, opens new tab

CompaniesRIO DE JANEIRO, July 7 (Reuters) - Brazilian ​state-run oil firm Petrobras (PETR3.SA), opens new tab ‌signed an agreement with regulator ANP committing to bring 335 temporarily ​abandoned offshore wells into compliance with ​safety and environmental rules, ⁠both parties said in ​separate statements on Tuesday.

Under ​the signed agreement, Petrobras will pay 300 million reais ($58.3 million) to ​ANP, and has ​until the end of 2030 to ‌comply ⁠with the rules.

The agreement is a result of negotiations between the oil ​regulator ​and ⁠Petrobras.

Petrobras said it has already brought ​233 of the ​335 ⁠wells into compliance.

($1 = 5.1484 reais)

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

Reporting by Marta Nogueira ⁠in ​Rio de Janeiro ​and Andre Romani in Sao Paulo; ​Editing by Kylie Madry

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Key Takeaways Petrobras and Finep will fund a R$150 million program to develop industrial-scale electrolyzer technology.PBR-backed project requires industry-research consortia and at least 50% domestic equipment value.Petrobras says the initiative supports Brazil's hydrogen value chain and clean-energy competitiveness. Petrobras (PBR - Free Report) has partnered with Finep to launch a R$150 million program aimed at accelerating the development of domestic electrolyzer technology and strengthening Brazil’s position in the low-carbon hydrogen economy, according to chemanalyst. The initiative will support the creation of industrial-scale electrolyzers designed to produce clean hydrogen, which is increasingly viewed as a critical input for reducing emissions in energy-intensive industries.

During the signing of a cooperation agreement between the two organizations, the declaration was made at Petrobras’ headquarters in Rio de Janeiro. The event underscored the strategic importance of hydrogen within Brazil’s industrial and environmental agenda, bringing together government officials, industry leaders and innovation stakeholders focused on advancing sustainable development.

Closing Brazil’s Electrolyzer Technology GapDespite its strong renewable energy base, Brazil’s electrolyzer manufacturing sector remains at an early stage of development. Only a small number of companies operate in this space and none currently produce electrolyzer stacks, the central component responsible for hydrogen generation through water electrolysis.

This technological gap has limited the development of a fully integrated domestic hydrogen value chain. The new Petrobras-Finep initiative is intended to address this challenge by encouraging local development of advanced electrolyzer systems. The goal is to strengthen domestic expertise, reduce dependence on imported technologies and improve Brazil’s competitiveness in the global clean-energy market.

Collaborative Structure and Innovation RequirementsThe program will be executed through a public call for proposals targeting a single large-scale strategic project. Selected participants must form collaborative consortia that combine industrial capabilities with scientific research, including at least three technology-focused companies and one Science and Technology Institution.

Projects may build on existing technological foundations but must demonstrate clear advancements over current international electrolyzer systems. Improvements in efficiency, performance or cost-effectiveness will be key evaluation criteria. In addition, at least 50% of the value of the equipment developed must originate domestically, reinforcing Brazil’s industrial base.

Full Funding for End-to-End DevelopmentThe initiative will be financed with R$150 million in non-repayable funding, split equally between Petrobras and Finep, with additional contributions expected from participating companies.

The selected project will cover the full development cycle, including engineering design, component development, system integration, testing and the construction of a pre-commercial prototype. This end-to-end structure is intended to ensure that laboratory innovations progress toward real-world industrial applications.

Expanding Demand for Low-Carbon HydrogenHydrogen produced via electrolysis is gaining momentum as industries seek cleaner alternatives to fossil-fuel-based production methods. When powered by renewable electricity, it offers a significantly lower-carbon pathway for hydrogen generation.

In the steel industry, hydrogen can replace carbon-intensive inputs used in production processes, helping reduce emissions. The refining sector, which relies heavily on hydrogen for operational processes, stands to benefit from cleaner supply options without major disruptions. Chemical producers, which use hydrogen as a key feedstock for products such as ammonia and methanol, also represent a major area of demand for low-carbon hydrogen solutions.

Strengthening Brazil’s Innovation EcosystemBeyond its industrial goals, the initiative is expected to strengthen Brazil’s broader innovation ecosystem. By requiring collaboration between companies and research institutions, it promotes knowledge transfer and encourages the commercialization of scientific research.

It is also expected to increase demand for highly skilled professionals in areas such as advanced engineering, materials science, automation, energy systems and industrial design, contributing to the development of a more advanced industrial workforce.

Long-Term Impact on the Chemical SectorThe development of domestic electrolyzer technology could have important implications for Brazil’s chemical industry. As production costs decline and technology matures, low-carbon hydrogen may become more widely available for industrial use.

This could improve the economics of sustainable chemical production, reduce emissions across supply chains and encourage investment in new facilities designed around cleaner feedstocks such as hydrogen-based processes.

Alignment With Brazil’s Energy Transition StrategyThe initiative aligns with broader national efforts to expand industrial capabilities and accelerate the energy transition. Petrobras has committed approximately $4 billion to research, development and innovation under its 2026-2030 business plan, while Finep has invested more than R$12.5 billion in green transition projects between 2023 and 2025.

These investments reflect a long-term strategy focused on building domestic technological capacity and positioning Brazil as a competitive player in emerging clean-energy markets.

ConclusionOverall, the R$150 million Petrobras-Finep electrolyzer program represents a significant step toward closing key technological gaps in Brazil’s hydrogen sector. By fostering collaboration, supporting domestic manufacturing and advancing industrial-scale innovation, the initiative positions the country to play a more active role in the global low-carbon hydrogen value chain while laying the foundation for a more competitive and sustainable industrial future.

PBR's Zacks Rank & Key PicksCurrently, PBR has a Zacks Rank #3 (Hold).

Investors interested in the energy sector might look at some better-ranked stocks like Delek US Holdings (DK - Free Report) and Crescent Energy Company (CRGY - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) and Phillips 66 (PSX - Free Report) , carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Delek US is valued at $2.66 billion. It is a U.S.-based downstream energy company that focuses on refining crude oil and distributing petroleum products. Headquartered in Brentwood, TN, Delek US Holdings operates through two main segments: refining and logistics.

Crescent Energy Company is valued at $3.47 billion. It is an independent U.S. energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas, and natural gas liquids. Crescent Energy operates primarily in the Eagle Ford, Permian and Uinta basins.

Phillips 66 is valued at $68.3 billion. It is a diversified energy company that refines crude oil, markets petroleum products, and operates midstream, chemicals, and renewable fuels businesses. Phillips 66 operates across the United States and internationally.

Key Takeaways Petrobras approved a $1.2B bioQAV and renewable diesel project at the Presidente Bernardes Refinery.PBR plans construction this year, with commercial operations targeted for 2030 and 15,000 bpd capacity.Petrobras included the project in its 2026-2030 Strategic Plan and approved final contracting to proceed. Petrobras (PBR - Free Report) has taken a significant step toward advancing sustainable energy production by approving a $1.2 billion investment to develop a state-of-the-art facility dedicated to the production of renewable jet fuel (bioQAV) and renewable diesel, according to Reuters. The project represents one of the most important renewable fuel initiatives in Latin America and reinforces Petrobras' commitment to balancing traditional energy operations with emerging low-carbon solutions.

The newly approved investment aligns with Petrobras' long-term strategic vision and positions it at the forefront of the growing global demand for cleaner transportation fuels. As governments, airlines and industries seek to reduce carbon emissions, renewable aviation and diesel fuels are becoming increasingly critical components of the worldwide energy transition.

New BioQAV and Renewable Diesel Plant Planned for Sao Paulo StateThe renewable fuel facility will be constructed at Petrobras' Presidente Bernardes Refinery in the state of São Paulo, one of the company's most important refining complexes. The location offers strategic advantages, including existing infrastructure, logistical connectivity and access to major domestic and international fuel markets.

According to company plans, construction is expected to begin during the current year, while commercial operations are scheduled to commence in 2030. Once operational, the plant will have the capacity to produce up to 15,000 barrels per day of renewable fuels, making it a major contributor to Brazil's sustainable fuel production capacity.

The project was already incorporated into Petrobras' 2026-2030 Strategic Plan, demonstrating that renewable energy investments remain a central component of its growth strategy.

Growing Demand for Renewable Jet Fuel Drives InvestmentThe aviation industry is under increasing pressure to reduce greenhouse gas emissions. Renewable jet fuel, commonly referred to as Sustainable Aviation Fuel (“SAF”) or bioQAV in Brazil, has emerged as one of the most promising solutions for decarbonizing air transportation.

Unlike conventional jet fuel derived solely from fossil sources, renewable jet fuel can significantly lower lifecycle carbon emissions while remaining compatible with existing aircraft engines and airport infrastructure. This compatibility allows airlines to reduce environmental impact without requiring major fleet modifications.

By investing heavily in bioQAV production, Petrobras is positioning itself to capitalize on rising global demand. International aviation organizations, regulators and airlines are establishing ambitious targets for SAF adoption, creating substantial long-term market opportunities for producers capable of delivering large-scale supply.

Renewable Diesel Expands Petrobras' Sustainable Fuel PortfolioIn addition to renewable aviation fuel, the new facility will produce substantial volumes of renewable diesel, a fuel that offers significant environmental benefits compared with traditional petroleum-based diesel.

Renewable diesel is manufactured using renewable feedstocks and can be utilized within existing diesel engines and distribution systems. The fuel provides lower emissions while maintaining performance standards required by transportation, industrial and commercial sectors.

As global demand for cleaner transportation fuels continues to expand, renewable diesel is expected to play a critical role in helping countries meet climate commitments while ensuring reliable energy supplies. Petrobras' investment demonstrates confidence in the long-term growth prospects of this market segment.

Strategic Importance of the Presidente Bernardes Refinery ProjectThe selection of the Presidente Bernardes Refinery as the project site highlights Petrobras' strategy of leveraging existing assets to support energy transition goals. Integrating renewable fuel production within an established refining complex enables operational efficiencies, optimized logistics and enhanced cost competitiveness.

The refinery has long served as a cornerstone of Petrobras' downstream operations. The addition of renewable fuel capabilities transforms the site into a more diversified energy hub capable of supporting both traditional and emerging fuel markets.

This approach reflects a broader trend among global energy companies, many of which are adapting existing refining infrastructure to accommodate renewable fuel production rather than constructing entirely new facilities from scratch.

Petrobras' 2026-2030 Strategic Plan Emphasizes SustainabilityThe renewable fuel project forms part of Petrobras' broader strategy to navigate evolving energy markets while maintaining profitability and competitiveness. The company's 2026-2030 strategic roadmap outlines substantial investments aimed at improving operational efficiency, expanding lower-carbon businesses and strengthening long-term value creation.

As environmental regulations tighten worldwide and customer preferences increasingly favor sustainable products, investments in renewable fuels offer Petrobras an opportunity to diversify revenue streams while supporting national and international decarbonization efforts.

As per the news, the board's approval marks a critical milestone, allowing Petrobras to advance into the final contracting phase before construction activities begin.

Economic Benefits for Brazil and the Renewable Energy SectorBeyond environmental advantages, the project is expected to generate significant economic benefits. Large-scale infrastructure developments typically create employment opportunities throughout planning, construction and operational phases.

The investment may also stimulate growth across Brazil's renewable energy supply chain, including feedstock production, logistics, engineering services and technology development. Such initiatives can strengthen Brazil's position as a leading participant in the global renewable fuels market.

Furthermore, increased domestic production of renewable fuels could enhance energy security while reducing dependence on imported sustainable fuel supplies as demand accelerates in the coming decades.

Global Renewable Fuel Market Continues to ExpandThe worldwide renewable fuel market is experiencing rapid growth as industries seek practical pathways to reduce emissions. Aviation, freight transportation, shipping and industrial sectors are increasingly incorporating renewable fuel solutions into their sustainability strategies.

Analysts project continued expansion in both renewable diesel and sustainable aviation fuel markets due to supportive government policies, corporate climate commitments and technological advancements. Producers capable of achieving commercial-scale output are expected to benefit from strong demand fundamentals over the long term.

Petrobras' decision to invest $1.2 billion underscores confidence in these market dynamics and reflects its intention to remain a key player in the evolving global energy landscape.

A Landmark Step Toward a Lower-Carbon FutureThe approval of Petrobras' renewable fuel plant represents a landmark development for Brazil's energy sector. With planned production of up to 15,000 barrels per day of bioQAV and renewable diesel, the facility will become an important contributor to sustainable fuel availability in the region.

As construction moves forward and final contracts are executed, the project stands as a powerful example of how major energy companies are adapting to changing market demands. By combining industrial expertise, strategic infrastructure and substantial investment, Petrobras is laying the foundation for a more diversified and lower-carbon energy future while strengthening its competitive position in the global renewable fuels market.

PBR's Zacks Rank & Key PicksCurrently, PBR has a Zacks Rank #3 (Hold).

Investors interested in the energy sector might look at some better-ranked stocks like Delek US Holdings (DK - Free Report) , Phillips 66 (PSX - Free Report) and Murphy USA (MUSA - Free Report) , sporting a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Delek US is valued at $2.54 billion. It is a U.S.-based downstream energy company that focuses on refining crude oil and distributing petroleum products. Headquartered in Brentwood, TN, Delek US Holdings operates through two main segments: refining and logistics.

Phillips 66 is valued at $66.61 billion. It is a diversified energy company that refines crude oil, markets petroleum products, and operates midstream, chemicals, and renewable fuels businesses. Phillips 66 operates across the United States and internationally.

Murphy USA is valued at $10.18 billion. The company is one of the largest independent gasoline and convenience store retailers in the United States, operating a network of stores primarily located near Walmart locations. Murphy USA focuses on offering low-cost fuel and everyday convenience products, supported by a strong loyalty program and disciplined capital-allocation strategy.