Petrobras profits R$32.7 billion in the first quarter of 2026

A Petrobras announced net profit of R$32.7 billion in the first quarter of 2026, a result that represents growth of 110% compared to the fourth quarter of 2025.

According to the state-owned company, the positive performance was mainly driven by the increase in its own oil and gas production, the increase in sales of derivatives and the favorable international scenario for oil.

The company reported that its own production increased 16% compared to the same period last year. Another decisive factor for the results was the 27% appreciation of Brent oil in relation to the last three months of 2025, in addition to the appreciation of the real against the dollar.

The company’s operating cash flow reached R$44 billion in the period, while adjusted EBITDA was R$59.6 billion, equivalent to US$11.3 billion.

Petrobras also increased investments in the quarter. Investments reached R$26.8 billion, a value 25.6% higher than that recorded in the same period of the previous year.

According to the company’s financial and investor relations director, Fernando Melgarejothe investments made it possible to expand the production of oil and derivatives, in addition to guaranteeing a high operational level of the state-owned refineries.

The company highlighted that the refining park operated close to maximum capacity during the first quarter of 2026, following the growth in energy demand and exports.

Among the main operational results, Petrobras recorded a record for total operated production, reaching 4.65 million barrels of oil equivalent per day. Total own production reached 3.23 million barrels per day, while own production in the pre-salt reached 2.66 million barrels per day.

Another highlight came from Santos Basinwhere the platforms achieved the highest daily gas export volume ever recorded, with 44.8 million cubic meters on March 28.

The state-owned company also reported that it allocated R$72.4 billion to pay taxes, royalties and special participation to the Union, states and municipalities. Furthermore, the board approved the distribution of R$9 billion in dividends and interest on equity to shareholders.

The results reinforce Petrobras’ strategic role in the Brazilian energy sector and in balancing public accounts linked to the collection of royalties and taxes.