Petrobras Set to Acquire Petronas’ Stake in Two Offshore Fields

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is included among the 13 Oil Stocks with Highest Dividends.

Petrobras Set to Acquire Petronas’ Stake in Two Offshore Fields

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) announced on March 16 that it would exercise its right to acquire Petronas’ 50% stake in the Tartaruga Verde field and the Espadarte Module III development in Brazil’s Campos basin. The deal, valued at $450 million, will restore Petrobras as the sole owner and operator of these assets. The two fields are currently producing an average of 55,000 bpd and will help bolster Petrobras’ control over a key offshore hub.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) reported its Q4 2025 results on March 6, with the company’s revenue surging by 13% YoY to $23.6 billion and exceeding estimates by almost $800 million. However, PBR’s adjusted EBITDA for the quarter came in at $10.9 billion, down 8.5% compared to the previous quarter.

Notably, PBR posted record exports of 1.2 million barrels per day of oil and derivatives in its fourth quarter, up by around 79% from the same period the prior year. This is because the energy giant’s oil production in Brazil grew by about 20% in the same period to 2.5 million bpd.

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