Petrobras Plunges 5.71% on Pre-Market Trading

On April 4, 2025, Brazilian Petroleum experienced a significant drop of 5.71% in pre-market trading, reflecting a notable shift in investor sentiment towards the company.

Petrobras, a major Brazilian oil company, is valued at nearly $80 billion and is one of the largest integrated oil companies globally. The company focuses on exploration and production of oil and gas in Brazilian offshore fields. Production in 2023 was 2.8 million barrels of oil equivalent a day.

Petrobras, formally known as Petróleo Brasileiro S.A., is a Brazilian petroleum corporation primarily engaged in the oil and gas industry. It focuses on the exploration and production of oil and gas, as well as refining, marketing, and distribution of petroleum products.

Brazilian energy major Petrobras recently made a significant hydrocarbon discovery in the pre-salt region of the Campos Basin. The discovery was made in the 1- RJS-734 block, which is located in the Campos Basin, approximately 180 kilometers off the coast of Rio de Janeiro. The discovery is expected to add to the company's reserves and production in the coming years.