Petrobras (PBR) Signs $521M Contracts for Gas Carriers and Barges to Boost Production
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: seekingalpha
- Contract Signing: Petrobras has signed contracts worth 2.8 billion reais (approximately $521 million) with shipyards for five gas carriers, 18 barges, and 18 pushers, reflecting strong confidence in future production growth.
- Vessel Construction Plan: A shipyard in Rio Grande do Sul will build the five gas carriers, with two having a capacity of 14,000 cm and three at 7,000 cm each, with the first tanker expected to be delivered within 33 months of construction start.
- Production Growth Expectations: Petrobras anticipates that by 2025, oil production will reach 2.4 million barrels per day and total oil and gas production will hit 2.99 million boe/day, both up 11% from 2024 and exceeding the upper limits of targets set in its 2025-29 business plan.
- National Shipbuilding Recovery: CEO Magda Chambriard stated that these contracts prepare Petrobras for production growth in the coming years while boosting the recovery of the national shipbuilding industry, highlighting their strategic significance.
Analyst Views on PBR
Wall Street analysts forecast PBR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PBR is 15.15 USD with a low forecast of 13.30 USD and a high forecast of 17.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 12.690
Low
13.30
Averages
15.15
High
17.00
Current: 12.690
Low
13.30
Averages
15.15
High
17.00
About PBR
Petroleo Brasileiro SA Petrobras is a Brazil-based company. The Company specializes in the oil, natural gas and energy industry. The Company is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks. Its segments include Exploration and Production (exploration, development, and production of crude oil, natural gas liquids, and natural gas); Refining, Transportation, and Marketing (refining, logistics, transport, trading of oil products, ethanol export, shale processing); Gas and Power (transportation and trading of natural and imported gas); Biofuels (production of biodiesel and ethanol); Distribution (fuel distribution); and Corporate (administrative and support functions).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
