Petrobras Reports Record Profits on Pre-Salt Production Growth

Earnings
โดย Insider Monkey·BR·Read original
Summary · why it matters

Petrobras reported record quarterly net profit and gross profit for the second quarter of 2026, driven by production volumes that exceeded its own targets. The company pumped 2.7 million barrels of oil per day, a 15% increase from a year earlier and 200,000 barrels per day above its 2.5 million target, with the Almirante Tamandare FPSO at Buzios reaching a peak of 270,000 barrels per day against a nameplate capacity of 225,000. Refining utilization topped 100% for the quarter, helping cut oil product imports by 40% from the prior quarter and lift exports by 12%, while adjusted EBITDA reached $20 billion, up 70% from the first quarter. Capital spending rose to $5.3 billion, and first-half operating expenses of $11.7 billion already exceeded half the full-year plan of $20.2 billion, pressured by freight and logistics costs and exchange-rate swings. Petrobras prepaid $2.9 billion in debt and is targeting $65 billion in net debt, while management highlighted that future growth depends on continued ramp-ups at Buzios and offshore gas developments like Colombia.

Impact on stocks 1

Energy▲ · 1 stocks
© 2026 MarketDXNews