Petrobras Q1 2026 profit falls 7.2% to $6.2bn

Petrobras has reported nett net of 32.7bn reais for the archetypal 4th of 2026 (Q1 2026), a 7.2% diminution successful section currency from 35.2bn reais recorded successful the aforesaid play the erstwhile year.

The Brazilian state-owned petroleum company's income revenues, successful presumption of US dollars, roseate by 11.7% to $23.5bn from $21.1bn successful Q1 2025.

Adjusted net earlier interest, taxes, depreciation and amortisation (EBITDA) for the 4th stood astatine $11.3bn, an 8.6% summation compared to $10.4bn successful Q1 of the erstwhile year.

Operating income for the reported 4th was down by 2.9% astatine $7.3bn from $7.5bn successful Q1 2025.

Segment-wise, the Exploration and Production conception reported income revenues of $16bn, portion the Refining, Transportation, and Marketing conception achieved $22.3bn successful sales.

The Gas and Low Carbon Energies conception recorded income revenues of $2.2bn, reflecting an 18.5% summation from the erstwhile year.

Petrobras said that it maintained beardown currency procreation with operating currency travel of $8.4bn and escaped currency travel of $3.9bn.

The company's gross indebtedness accrued by 10.4% year-over-year to $71.2bn, portion nett indebtedness roseate by 10.8% to $62.1bn.

Petrobras main fiscal serviceman and capitalist relations serviceman Fernando Melgarejo said: “We delivered accordant fiscal results successful the archetypal 4th of 2026, maintaining beardown currency procreation with operating currency travel of $8.4bn, sustained by the fantabulous show of our assets and by grounds lipid and state production.

“Our investments are being converted into accumulation growth, vindicating our coagulated and effectual worth procreation strategy.”

Operationally, Petrobras achieved a 3.7% summation successful lipid and state accumulation compared to the erstwhile quarter, driven by the start-up of caller accumulation systems and accrued capableness astatine existing facilities.

Petrobras said that state exports from Santos Basin units reached a regular grounds of 44.8 cardinal cubic metres (mcm) successful March 2026.

Two floating production, retention and offloading units were secured during the 4th for the SEAP I and II developments nether a build-operate-transfer contracting structure.

During the period, Petrobras expanded its portfolio by purchasing a 42.5% involvement successful Block 2613 offshore Namibia.

It besides obtained an involvement successful Block 3 disconnected São Tomé and Príncipe and took implicit arsenic relation of that asset.

In Brazil, the institution acquired a 50% involvement successful the Tartaruga Verde tract and successful Module III of the Espadarte field.

In presumption of exploration results, a caller pre-salt accumulation was identified successful the Campos Basin done good 1-BRSA-1404DC-RJS successful Sector SC-AP4 (block C-M-477).