Business · Companies · 1 hr ago
Petrobras third-quarter profit rises 21.5% to R$39.8 billion
Brazilian state oil company Petrobras reported R$39.8 billion in profit for the third quarter of 2026, 21.5% more than a year earlier.
The company said higher oil prices and record production helped lift its results, although sources differ on how much Brent crude prices rose year on year.
Petrobras produced an average of about 3.51 million barrels of oil equivalent per day, up 11.7% from the same quarter in 2025.
Refining, transport and sales delivered a sharp increase in earnings, helped by record exports and higher domestic diesel production.
One-off costs, including an export tax and legal losses, reduced reported profit; without those items, profit would have been R$47.9 billion.
Petrobras approved R$15.3 billion in shareholder payments, bringing its authorized payments for the year to R$42 billion.
The company also raised its 2026 production forecast to 3.3–3.4 million barrels of oil equivalent per day and its investment forecast to as much as US$25.5 billion.
Petrobras reported a third-quarter 2026 net profit of R$39.8 billion, up 21.5% from the same period a year earlier.
The company attributed its performance to record production and higher international oil prices after the start of the war in Iran.
Average production reached a record 3.51 million barrels of oil equivalent per day, 11.7% above the third quarter of 2025.
Petrobras approved R$15.3 billion in payments to shareholders and raised its 2026 production and investment forecasts.
The company said profit would have been R$47.9 billion without one-off items, including export taxes and legal losses.
- Who
- Petrobras, Brazil’s state-controlled oil company.
- What
- It reported third-quarter net profit of about R$39.8 billion, up 21.5% year on year, and approved R$15.3 billion in shareholder payments.
- When
- Third quarter of 2026; results were announced on November 10, 2026.
- Where
- Not stated
- Why
- Record production and higher international oil prices supported results, while one-off items reduced reported profit.
This story does not have two clearly opposing sides.
Petrobras produced an average of 3.51 million barrels of oil equivalent per day.
Petrobras announced its third-quarter results and approved R$15.3 billion in shareholder payments.
- Net profit
- R$39.783 billion
- Year-on-year profit increase
- 21.5%
- Average production
- 3.51 million barrels of oil equivalent per day
- Shareholder payments approved
- R$15.3 billion
- Profit excluding one-off items
- R$47.9 billion
- 2026 investment forecast
- Up to US$25.5 billion
3 sources
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