Petrobras hit its record market value on October 2nd, 2026, reaching R$ 700.08 billion at the close of trading on B3, the São Paulo Stock Exchange. It was the first time in history that the company surpassed the R$ 700 billion mark.
On Friday alone, the company added R$ 20.9 billion to its market value, due to the strong appreciation of its shares on the B3 stock exchange, despite the stability of the Brent crude oil price on the same date. Preferred shares advanced 2.81%, while common shares registered a 3.25% increase.
The upward movement was driven by the announcement of a new oil discovery in ultra-deep waters, in the Sedimentary Basin of the Amazon River Mouth Basin, on the Brazilian Equatorial Margin . It was the second discovery in the Morpho exploratory well, drilled in block FZA-M-59, 175 km off the coast of the state of Amapá.
Records and high production
Throughout 2026, Petrobras reached record market value three other times: on September 15, when it reached R$ 692.35 billion; on April 14, with R$ 680.10 billion; and on March 30, with R$ 677.24 billion.
The successive records follow the also unprecedented movement in the company's oil production this year, which advanced from an average of 2.5 million barrels per day in the first quarter to almost 3 million barrels per day in September.
'The market has recognized and priced in the increase in our oil production, the rise in refinery utilization rates, and the pursuit of replenishing reserves with the opening of new exploratory frontiers, such as the Equatorial Margin. Petrobras' performance goes beyond the effects of the international scenario and is also associated with the evolution of the company's results and operational performance,' said Petrobras President Magda Chambriard.
Value generation
In 2026, Petrobras also stands out among the major oil companies for its value creation. From January to September, the sum of Petrobras' market value increase and the proceeds (dividends and interest on equity) generated represented a result of approximately 185% (in US$) in value creation. This result is well above that recorded by other major oil companies, such as Chevron (138%), ExxonMobil (138%), TotalEnergies (135%), Shell (133%), and BP (131%).
Source: Petrobras
