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Petrobras (PBR) Announces Increase in Estimated Proven Reserves

The share price of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) surged by 12.71% between January 22 and January 29, 2026, putting it among the Energy Stocks that Gained the Most This Week.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is one of the largest oil and gas producers in the world. The Brazilian company is mainly dedicated to exploration and production, refining, energy generation, and marketing.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) surged to a 52-week high following a couple of positive developments this week. On January 29, the Brazilian state-run oil firm announced that its estimated proven oil, condensate, and natural gas reserves rose to 12.1 billion boe (84% oil) in 2025, up from 11.4 billion boe in the previous year. The surge occurred mainly due to the outstanding performance of the company’s assets, with emphasis on the Búzios, Tupi, Itapu, and Mero fields in the Santos Basin.

In other positive news, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) revealed on January 28 that it has expanded and renewed its oil sales contracts with several Indian state-owned oil refiners, which will now remain in effect until March 2027. The contracts represent sales of up to 60 million barrels, with a total value that may exceed $3.1 billion.

While we acknowledge the potential of PBR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PBR and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 High Yield Utility Stocks to Buy in 2026 and 10 Best American Oil and Gas Stocks to Buy

Disclosure: None.

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