Trade Brazilian: Petrobas on Movo

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We recently added the shares of the Brazilian company Petrobras to Movo.

The company is very famous in the world and is a leader in oil production, as well as having constantly growing revenues. Cool, right? We suggest you learn more about Petróleo Brasileiro S.A.

General information

A Petrobras é a maior empresa de petróleo e gás do Brasil, controlando mais de 90% da produção de petróleo do país. Suas principais reservas de petróleo e gás estão nas bacias de Campos e Santos.


The company was founded on October 3, 1953, on the initiative of Brazilian president Getúlio Vargas and was granted monopoly rights to explore, produce, and refine oil in the country.

  • In 1968, large oil reserves were discovered in the Atlantic Ocean, off the southeast coast of Brazil – the Campos Basin (its development by Petrobras began in 1971).
  • In 2006, oil deposits were discovered in the Santos Basin, which contains oil and gas, and its development began in 2009.
  • In 2007, the company announced the discovery of a field in the Tupi offshore area with reserves of 5 billion to 8 billion barrels of light oil.


Petróleo Brasileiro S.A. delivered an impressive performance in 2022 – 2023. The company has not appeared in the Gap Down for 2 years, according to each quarterly report. The most recent report showed revenue of $22.9 billion and annualized revenue (excluding the most recent quarter) is $105.5 billion (a non-tax figure).
The company has an excellent P/E of 3.58. The shares are not overvalued and are trading at a fair price.


With the oil price falling by more than 20% at the end of September, the shares only fell by 0.6% over the same period. This demonstrates excellent diversification.
Big names like HSBC Securities, Jefferies, UBS, and BofA recommend buying Petróleo Brasileiro shares from August to October.
From a technical perspective, $16 – $18 will be the key zone for the stock. This resistance has been holding the price back for years. If OPEC+ stabilizes oil prices, we’ll see PBR above $20.

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