Why Brazil’s Oil Giant Petrobras Is Suddenly Chasing Battery Metals

Business · Brazil

Key Facts

—The deal. Petrobras and Brazil’s state development bank signed a pact to research critical minerals together.

—The surprise. An oil company is moving into the metals that power batteries, wind turbines and electronics.

—The metals. The focus is on lithium, nickel, cobalt, copper and rare earths, the raw materials of the energy shift.

—The resource. Brazil is among the five biggest lithium producers and holds vast nickel, graphite and rare-earth reserves.

—The suitors. The same day, a European Union team met the bank to discuss Brazilian minerals.

—The stakes. Brazil wants to process its own minerals at home rather than ship raw ore abroad.

The push into Petrobras critical minerals signals something bigger than one deal: an oil major betting that the metals behind clean energy are the next prize worth fighting for.

When an oil company starts talking about lithium, it is worth paying attention. Brazil’s Petrobras just did exactly that.

The state-controlled oil giant has signed a pact with the national development bank to research the metals that power the global shift away from fossil fuels.

What the Petrobras critical minerals deal does

The agreement was signed in Rio de Janeiro with the development bank known as BNDES, at an event attended by President Luiz Inácio Lula da Silva.

It is a protocol of intentions, not a building project. The two sides will share data and map where Brazil has gaps in its ability to produce and process key minerals.

The focus is on the raw materials of the energy transition. That means lithium, nickel, cobalt, copper and rare earths, the metals inside batteries, wind turbines, solar panels and advanced electronics.

Petrobras brings an unusual asset to the table. Through its research centre it has decades of expertise in geology and large-scale production, skills it now wants to point at minerals instead of oil.

Why an oil giant wants battery metals

The logic is about the future of energy. As the world electrifies, demand for these minerals is set to surge, and an oil company that ignores that shift risks being left behind.

Brazil has the raw material to matter. It is among the five largest lithium producers, holds the second-biggest natural graphite reserves, and ranks third in nickel and high in tin and manganese.

Yet only about a third of its territory has been surveyed for these minerals. The bank’s chief framed mapping that potential as the first step toward turning geology into investment.

The plan does not stop with the oil firm. Officials said they intend to extend the partnership to the mining giant Vale, lining up the country’s two industrial heavyweights behind the same goal.

For Petrobras itself, the move is a hedge. Oil still pays the bills, but the company is signalling it does not want its future tied to a single commodity in a decarbonising world.

Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.

Rio Times · Live Ticker Intelligence

Petroleo Brasileiro Petrobras SA ADR

PETR4 · B3 São PauloEnergyOil & Gas Integrated

Share price · live

$39.17

▲ +0.95% today

Market cap

$107.9 bn

3.7 bn shares

P / E

5.3

EPS 3.18

Dividend yield

17.8%

$2.99 / share

The company

Employees

43,199

Headquarters

Rio De Janeiro

Listed since

2000

Website

Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and…

Financial performance · FY · USD

RevenueNet income

2023

$105.5 bn

$25.7 bn

2024

$91.4 bn

$7.5 bn

2025

$90.8 bn

$20.1 bn

Net income declined to $20.1 bn in 2025, from $25.7 bn in 2023.

Valuation & returns

EBITDA margin

40.9%

Net margin

21.6%

Return on equity

25.6%

Price / book

1.24

Enterprise value

$167.2 bn

Revenue growth · YoY

+0.4%

Latest earnings

Q1 2026 — reported EPS 0.96 vs 0.99 expected

Missed −3%

Peers & comparators

IBOV

▲ +1.06%

USD/BRL

▲ +0.02%

BRENT

▼ -0.56%

Data: EODHD Fundamentals & live feed · The Rio Times Ticker Intelligence

Why the Petrobras critical minerals push matters for investors

The timing points to a bigger contest. On the same day, a European Union team met the bank to discuss Brazilian minerals, part of a wider race to secure supplies outside China‘s control.

That is the real prize for outside investors. Brazil is positioning itself as an alternative source for Europe and others wary of depending on Chinese processing.

The government’s message is also a warning to buyers. Officials want to add value at home, processing minerals into finished materials rather than simply exporting raw ore.

That ambition has a long history of falling short. Earlier reporting has shown Brazil’s mineral plans stalling in red tape and weak processing capacity, so promises are easier than results.

The forward signal is execution. Whether this pact turns into real projects, and whether foreign offtake deals follow, will decide if Brazil finally converts its resource wealth into industry.

For now it is a statement of intent. But the lineup behind it, an oil major, a mining giant and a state bank, is the most serious Brazil has assembled on minerals yet.

Frequently Asked Questions

What is the Petrobras critical minerals deal?

It is a research pact between the oil company Petrobras and Brazil’s state development bank, BNDES. The two will study and map the country’s lithium, nickel, copper and rare-earth potential for the energy transition.

Why is an oil company moving into minerals?

Demand for battery and clean-energy metals is set to surge as the world electrifies. Petrobras wants to use its geology and production expertise in this new field, rather than be left behind by the shift away from oil.

Why does the Petrobras critical minerals push matter abroad?

Brazil is positioning itself as an alternative supplier of critical minerals to economies wary of depending on China. A European Union team met the bank the same day, underlining the global race to secure these materials.

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