Petrobras' incomplete recovery
Brazil's state oil company has taken major strides forward, but further progress and support from the next government are needed
A company's share price doesn't tell its whole story, but it's one way to track a firm's fortunes. Petrobras has endured a rollercoaster ride through the market—during a tumultuous decade that saw it fly high as an investor darling, collapse and more recently mount something of a comeback. At its peak in 2010, following the discovery of the massive pre-salt oilfields, Brazil's national oil company set a record with a $70bn share sale and, shortly after that, saw its market value peak at $229bn, surpassing supermajors Shell and Chevron. But Petrobras never lived up to that hype, and things got particularly ugly in early 2016 when it was hit by a perfect storm of scandal, debt and an oil-price
Also in this section
25 March 2025
Cote d’Ivoire’s ambitions to become a major regional producer have gained renewed momentum, with established players and new entrants striking upstream deals and committing to long-term investment
24 March 2025
Indian E&P company wants to take domestic production to a new horizon, given the amount of unexplored opportunities
21 March 2025
Two recent developments raise the prospect of a revival in northern Iraqi oil and gas fortunes, but familiar obstacles could thwart momentum
20 March 2025
As cash-strapped Western governments commit to substantially raising defence expenditure, a similar dynamic is playing out in Saudi Arabia’s oil and gas sector, as Saudi Aramco maintains it heavy capex push despite reduced revenues
