Petrobras reaches highest market value in history: BRL 552 bi

The company's shares have risen by more than 8% and 9%

Published on 07/02/2024 - 13:00 By Vinícius Lisboa - Agência Brasil - Rio de Janeiro

Petrobras has reached the highest value in its history on the financial market: BRL 552 billion, according to data released by the São Paulo Stock Exchange last Thursday (Feb. 1).

The company stated that the PETR3 share closed at BRL 42.96, and PETR4 at BRL 41.57 on that day.

Since the beginning of January, PETR3 has risen by more than 8 percent, while PETR4 has risen by more than 9 percent.

São Paulo (SP), 13/09/2023 - Presidente da Petrobras, Jean Paul Prates, apresenta as novas iniciativas que vão tornar a Petrobras a maior desenvolvedora de projetos de eólica offshore do Brasil. Foto: Paulo Pinto/Agência Brasil
Petrobras head Jean Paul Prates - Paulo Pinto/Agência Brasil

In a press release, Petrobras head Jean Paul Prates attributed the record to the resumption of investments made by the new management over the past year. He stated, "The Petrobras that Brazilians are proud of and that the market admires is back."

Petrobras' Chief Financial and Investor Relations Officer, Sérgio Leite, described the record as a "collective success" for the oil workers—the state-owned company's employees.

"The record share price reinforces the company's commitment to generating value for shareholders, customers, employees, and society as a whole. Petrobras remains committed to its mission of supplying energy in a safe, responsible, and sustainable way, maintaining its prominent position in the global market," he concluded.

Translation: Mário Nunes -  Edition: Nádia Franco

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