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Largest Oil & Gas Public Companies in Brazil
Benchmark revenue and EBITDA valuation multiples for public comps like
Petrobras, PRIO, Valaris, Grupo Ultra and Cosan.
 | Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production of oil and gas in Brazilian offshore fields. Production in 2024 was 2.7 million barrels of oil equivalent a day (80% oil production), and reserves stood at 11.4 billion boe (85% oil). At end-2024, Petrobras operated 10 refineries in Brazil with capacity of 1.8 million barrels a day and distributes refined products and natural gas throughout Brazil. | $9 | +36% | $112B | $175B | 1.8x | 3.5x | ||
| PRIO SA is engaged in the exploration and production of oil and gas in Brazil and abroad. The company is engaged in oil and gas exploration and production in Brazil and overseas. Its exploration assets comprise Polvo field, Tubarao Martelo field, Campo de Frade, East Albacora field, and Wahoo block. | $12 | +51% | $10B | $14B | 5.1x | 9.9x | ||
| Valaris Ltd is an offshore contract drilling company. The company provides offshore contract drilling services to the international oil and gas industry with operations in almost every offshore market across six continents. Its business consists of four operating segments: Floaters, which includes drillships and semisubmersible rigs; Jackups; ARO; and Other, which consists of management services on rigs owned by third parties. It generates the majority of its revenue from the Floaters segment. | $93 | +121% | $6B | $7B | 3.0x | 8.8x | ||
| Ultrapar Participacoes SA engages in the investment of its own capital in services, commercial, and industrial activities, through the subscription or acquisition of shares of other companies. The Company has three business segments: Ultragaz distributes LPG in the segments: bulk, comprising condominiums, trade, services, industries, and agribusiness; and bottled, mainly comprising residential consumers. The Ipiranga engages in the distribution and sale of oil-related products, biofuels, and similar products to service stations that operate under the Ipiranga brand throughout Brazil and to consumers and carrier-reseller-retailer. The Ultracargo operates in specialized liquid bulk storage solutions in the main logistics centers of Brazil. | $5 | +45% | $5B | $8B | 0.3x | 5.2x | ||
| Cosan SA engages in several services throughout the energy and logistics sectors. Its reportable segments are Raizen, Compass, Moove, Rumo, and Radar. It generates the majority of its revenue from Raizen which operates in the production, commercialization, origination, and trading of ethanol, bioenergy, resale, and trading of electricity, renewable sources, marketing, origination, and trading of sugar and fuels, and lubricant. | $1 | -47% | $3B | $11B | 1.4x | 2.8x | ||
| Brava Energia SA is engaged in the oil and gas sector with a focus on the redevelopment of mature production fields located onshore, in shallow waters, and offshore. The company operates in the following business segments: Exploration and Production (E&P), Mid and Downstream, and Corporate and other businesses. Maximum revenue is generated from the Mid and Downstream segment, which includes the activities of refining, logistics, transportation, acquisition and export of crude oil, as well as the purchase and sale of oil derivatives in Brazil. This segment acquires crude oil from the E&P segment and acquires oil derivatives in local and international markets. The Exploration and Production segment includes oil and gas exploration and production activities in Brazil. | $4 | +22% | $2B | $5B | 2.1x | 4.1x | ||
| Petroreconcavo SA is engaged in the operations and production of mature oil and natural gas fields and its by-products in Brazil. The company specializes in the development and rejuvenation of mature and marginal fields in onshore basins and is the operator in all of its fields. | $2 | -22% | $627M | $935M | 1.5x | 2.6x | ||
| Ventura Offshore Holding Ltd is a deep-water drilling contractor providing offshore drilling services to the oil and gas industry. The group specializes in deepwater drilling, primarily operating in the offshore oil and gas sector in Brazil. Also, the group owns and operates the drillship Carolina and the semisubmersible rig Victoria (the Owned Rigs), and manages the drillship Zonda and semisubmersible rig Catarina (the Managed Rigs, and together with the Owned Rigs, the Rigs), all of which drilling rigs capable of drilling in ultra-deep waters. The company operates in two reportable segments being the Operations of owned vessels and the Operations of managed vessels. | $3 | +85% | $354M | $459M | 1.2x | 2.8x | ||
| Refinaria De Petroleos Manguinhos SA is engaged in the operation of the oil refinery, import, sale and export of crude oil and its derivatives, and provision of services related to the refining activity, among others. | $0 | -- | $20M | $9M | 0.0x | (0.1x) | ||
| Lupatech SA provides equipment and renders services to the oil and gas industry. It is classified into two segments, products, and services. The products segment mainly produces industrial valves; valves for oil and gas; synthetic fiber ropes for anchoring oil platforms and several other applications; and artifacts of composite materials, such as poles and tubular sleeves for coating oil pipelines. Geographically the company generates the majority of its revenue from Brazil. | $0 | -- | $7M | $44M | 4.3x | (8.1x) | ||
| OSX Brasil SA provides equipment and services for Brazil's offshore oil and gas industry. It is engaged in the equipment and service segment for the offshore oil and natural gas industry, with integrated operations in shipbuilding, chartering of exploration and production units (E&P) and operation and maintenance industries (O&M). | $0 | -45% | $924K | $2B | 106.9x | (58.5x) | ||
| Median | $3 | +36% | $2B | $5B | 1.8x | 2.8x |
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