Recently, Zacks.com users have been paying close attention to Petrobras (PBR). This makes it worthwhile to examine what the stock has in store.
Brazil's state-run oil company Petrobras is wrapping up due diligence for a bid on the Mataripe refinery it sold to Abu Dhabi sovereign fund Mubadala for $1.65 billion in 2021, three people familiar with the matter told Reuters. President Luiz Inacio Lula da Silva campaigned against the sale of Petrobras refineries and has pushed for the company to accelerate job-creating investments in the segment. Those discussions could delay the deal, which has been in the works for several months, given that the refinery, also known as RLAM, was sold below market value by some accounts.
In the closing of the recent trading day, Petrobras (PBR) stood at $14.57, denoting a -1.22% change from the preceding trading day.