Sharply rising profits and record sales: Brazilian oil giant Petrobras is thriving in the 3rd quarter
Brazilian oil company Petrobras saw its net profit jump 21.5% in the third quarter, reaching $7.7 billion. This financial performance is driven by record production and sales, in a context of high oil prices.
The Brazilian public oil company Petrobras published on Tuesday, November 10, net profit up 21.5% in the third quarter year-on-year, propelled by record production and sales in a context of high prices.
The company recorded a net profit of 39.8 trillion reais (6.40 billion euros) over the period. Its president, Magda Chambriard, welcomed “new records in oil and gas production, raising our production curve to a historic level”.
According to Magda Chambriard, the average production expected over the year is 3.3 to 3.4 million barrels/day, or almost a million more than in 2025.
Petrobras, which has strengthened its prospecting operations, announced at the beginning of October a new oil discovery off the coast of the Amazon, as part of a project supported by President Luiz Inacio Lula da Silva which could further boost its production.
The company received its environmental permit at the end of 2025 to start exploration drilling in this offshore zone called the Equatorial Margin, despite the concerns of environmental defenders.
Machine-translated from French
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- La Tribune11 Nov, 14:00
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