PBR signs key contracts to complete RNEST's Train 2, doubling refining capacity by 2029 and boosting production of low-sulphur fuels.
Brazilian state-run oil firm Petrobras announced on Monday it signed contracts worth approximately 4.9 billion reais ($892.3 million) for the completion of a new refining unit at its RNEST refinery.
Petrobras offers strong profitability and attractive valuation metrics, trading at a significant discount to peers despite robust margins and earnings yield over 12%. Political risk in Brazil, particularly from the current government, is the main reason for Petrobras' low valuation, but upcoming elections could unlock higher valuations. Brazil's economic fundamentals remain solid, with low unemployment and stable GDP growth.
Oil & Gas Integrated Industry | Energy Sector | Ms. Magda Maria de Regina Chambriard CEO | NYSE Exchange | 71654V408 Cusip |
BR Country | 41,778 Employees | - Last Dividend | 8 May 2008 Last Split | - IPO Date |