Petróleo Brasileiro S.A. – Petrobras (PBR) reported an 11% production increase in its pre-salt oil fields for 2025, with current output at 2.1 million barrels per day, representing 82% of total production. The company’s pre-salt assets, including fields like Búzios and Mero, boast breakeven costs below $40 per barrel, making them resilient amid fluctuating oil prices. Petrobras plans to allocate nearly 60% of its exploration and production capital expenditure to these assets, with additional projects expected by 2029.
In comparison, BP p.l.c. is focusing on its Bumerangue discovery in Brazil’s pre-salt region, its largest find in 25 years, while Shell plc is enhancing its role in the sector with projects like Mero 3 and the Gato do Mato deepwater project. Both companies are leveraging pre-salt assets to support long-term production growth and cash flow.
Petrobras has seen its ADS rise 74.8% in the past three months, exceeding the Oil/Energy sector’s 28.6% increase. Projections indicate an 18.9% year-over-year growth in earnings per share for 2026, positioning Petrobras as a strong buy according to Zacks Investment Research.
