Petrobras signs eight Ivory Coast contracts: what it means for Petrobras stock

Published on 10/12/2026 at 11:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Petrobras will operate eight Ivory Coast blocks with a 90.00 percent stake. Petrobras stock costs EUR 22.50 on October 12, 2026.

Key points in brief

Petrobras signed production-sharing contracts for eight offshore blocks in Ivory Coast on September 17, 2026.
Petrobras will operate the blocks with a 90.00 percent interest, while Petroci retains 10.00 percent.
Second-quarter 2026 revenue was USD 33.61 billion and net income was USD 10.43 billion.
Petrobras stock was trading at EUR 22.50 at Lang & Schwarz on October 12, 2026 at 11:12 a.m. CEST.
The third-quarter 2026 webcast is scheduled for November 11, 2026.

PBR, US71654V4086, Illustration mit AI erstellt.

Petrobras (ISIN US71654V4086) was trading at EUR 22.50 at Lang & Schwarz on October 12, 2026 at 11:12 a.m. CEST as its latest international exploration move remained the central company development. On September 17, Petrobras signed production-sharing contracts for eight offshore exploration blocks in Ivory Coast, according to StockTitan.

Eight blocks expand exploration

The contracts cover blocks CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702. Petrobras Netherlands B.V., a wholly owned subsidiary, will operate the assets with a 90.00 percent interest, while Petroci Holding retains 10.00 percent, the filing states.

The structure gives Petrobras operating control across all eight blocks, but the assets remain in the exploration phase. Future seismic work, drilling results, commercial discoveries and development decisions will determine whether the acreage produces financial returns, according to TradingView.

What does 90 percent control mean?

The 90.00 percent operating interest gives Petrobras a larger role in exploration spending and technical decisions than its local partner. That control also leaves Petrobras responsible for 90.00 percent of the participating interest, making the project an option on future reserves rather than a current production contribution.

Second-quarter scale sets context

Petrobras reported USD 33.61 billion in revenue and USD 10.43 billion in net income for the second quarter of 2026, according to EarningsToday. The figures put the exploration expansion against a business with quarterly revenue measured in tens of billions of US dollars.

MarketBeat lists six Buy ratings and two Hold ratings among eight analysts and an average 12-month target of USD 20.97, based on data updated October 11, 2026, according to MarketBeat. The target is denominated in US dollars and is therefore separate from the euro quotation at Lang & Schwarz.

Next reporting date is November 11

Petrobras has scheduled its third-quarter 2026 webcast for November 11, 2026, at 9:30 a.m. New York time, according to the company investor-relations calendar. The event will give the market its next scheduled update on production, cash generation and exploration spending, with the Ivory Coast blocks still at the project stage.

Petrobras stock stays at EUR 22.50

Petrobras stock was trading at EUR 22.50 at Lang & Schwarz on October 12, 2026 at 11:12 a.m. CEST. Market capitalization was USD 163.0 billion as of October 9, 2026.

The further course of trading is shown by the continuously updated real-time quote of Petrobras stock.