Petrobras profits rise 46% in the first nine months of the year

Petrobras reported a net profit of $24.4 billion in the first nine months of the year, a 46% increase year-on-year. In Q3 alone, profits reached $7.74 billion, up 28% from the same period in 2025, but down 26% from Q2. The company attributed its strong quarterly results to record oil and gas production of 3.51 million barrels of oil equivalent per day. Petrobras also achieved record sales of derivatives in Brazil, benefiting from increased refining capacity. Revenue from sales rose 37% to $90.1 billion, while EBITDA increased by 48% to $46.7 billion. Gross debt decreased by 1% to $70 billion, and investments grew by 20% to $16.9 billion, primarily for exploration and production activities. Petrobras dominated a recent auction for exploratory blocks, acquiring 19 out of 49 blocks, and plans to explore offshore Ivory Coast.