Petrobras Advances RNEST Expansion with New Contracts

The latest update is out from Petroleo Brasileiro SA- Petrobras ( (PBR) ).

On June 16, 2025, Petrobras announced the signing of initial contracts with Consag Engenharia S.A. for the completion of Train 2 at the Abreu e Lima Refinery (RNEST) in Pernambuco. These contracts, valued at approximately R$ 4.9 billion, are part of Petrobras’ 2025-2029 Business Plan and include the construction of key units such as the Coking Unit, Diesel Hydrotreating Unit, and Atmospheric Distillation Unit. The expansion will double the refinery’s capacity to 260,000 barrels per day by 2029, enhancing Petrobras’ refining capabilities and supporting the production of low-sulphur fuels, thus reinforcing its market position.

The most recent analyst rating on (PBR) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Petroleo Brasileiro SA- Petrobras stock, see the PBR Stock Forecast page.

Spark’s Take on PBR Stock

According to Spark, TipRanks’ AI Analyst, PBR is a Outperform.

Petrobras scores well due to strong financial performance and attractive valuation, supported by significant cash flow and profitability. Technical analysis shows mixed signals, while the earnings call highlights both strengths in production and exploration, and challenges with declining oil prices and debt management.

To see Spark’s full report on PBR stock, click here.

More about Petroleo Brasileiro SA- Petrobras

Petrobras, or Petróleo Brasileiro S.A., is a Brazilian petroleum corporation primarily engaged in the oil and gas industry. The company focuses on the exploration, production, refining, and distribution of oil and its derivatives, playing a significant role in the Brazilian and global energy markets.

Average Trading Volume: 24,709,559

Technical Sentiment Signal: Strong Buy

Current Market Cap: $78.12B

For an in-depth examination of PBR stock, go to TipRanks’ Overview page.