Petrobras reports adjusted EBITDA of 85.8 billion reais

Key Facts

Petrobras reported adjusted earnings before interest, taxes, depreciation and amortization of 85.8 billion Brazilian reais in the third quarter of 2026, according to a company statement. Adjusted earnings reached 94.5 billion reais excluding special items, while operating cash flow was 61.8 billion reais. Operating cash flow grew 15% from the same period in 2025. The financial results coincided with record production and refining levels, the company said. Chief Executive Magda Chambriard said Petrobras had set three consecutive quarterly records for oil production in 2026.

The company’s total output was 3.51 million barrels of oil equivalent per day in the third quarter, including 2.96 million barrels of oil equivalent per day from pre-salt fields. The company said the quarter marked its third consecutive quarterly record for oil production. It attributed the increase to efficient operation of exploration and production assets, investment in platform maintenance and safety, and improved reservoir management. It added that 11 platforms had received authorization to produce above their original capacity while maintaining safety, with no additional investment in production units. The figures show production expanding alongside improved use of existing assets, the company said.

In refining and marketing, domestic sales of oil products reached 1.854 million barrels per day, the highest level since the third quarter of 2021. Diesel output also set a record at 769,000 barrels per day. Total oil product output was 1.873 million barrels per day during the quarter. Refinery utilization averaged 99%, according to company data. The figures put domestic sales and fuel production among the period’s leading operational performance metrics.

Petrobras raised its forecast for average annual production in 2026 to a range of 3.3 million to 3.4 million barrels per day, Chambriard announced. She said the company’s previous estimate assumed an average of 3.1 million barrels of oil equivalent per day for the year. She said the new estimate reflected the production trajectory the company had achieved during the year. The executive team was scheduled to hold an online news conference to discuss third-quarter results on November 11, 2026. The company set the conference for 15:30 Brasília time.