Petrobras posted a profit of R$ 39.75 billion in the third quarter and raised its oil and gas production targets for the end of 2026.
Petrobras’ operational performance in the third quarter reached unprecedented milestones. Under the leadership of President Magda Chambriard, the state‑owned company announced a structural shift in its extraction and processing expansion trajectory.
During the presentation of the company’s financial results, the executive highlighted that the new records are the result of technical rigor and efficient asset management. The strategy covers both exploration and refining segments.
The period was marked by strong financial solidity, with double‑digit growth in profits and cash generation, driven by high performance in exploration, refining, and marketing.
Financial balance and operational records
Between July and September, the oil company recorded a net profit of R$ 39.75 billion, a figure that represents a 21.5% increase compared to the same period last year.
The Adjusted EBITDA reached a mark of R$ 85.8 billion. At the same time, operating cash flow totaled R$ 61.78 billion, indicating a 15% growth over twelve months.
“We are, with this, changing the growth trajectory of Petrobras’ production. At this moment I am talking about oil production, but the same applies to our refinery capacity,” highlighted President Magda Chambriard.
The executive reinforced that optimization in reserve management and the expansion of installed infrastructure were key to taking the company’s global operation to historic levels.
Upward revision of 2026 targets
Faced with recent operational advances, Petrobras positively adjusted its production estimates for the end of 2026.
The target for total own oil and natural gas production rose from the previous level of 3.1 million boed to an estimated range between 3.3 million and 3.4 million boed.
For exclusive oil and LGN extraction, the prior projection of 2.5 million bpd was redefined to the range of 2.7 million to 2.8 million bpd.
The investment contributions also underwent adjustments. The total Capex estimate jumped from US$ 19.4 billion to a range between US$ 24 billion and US$ 25.5 billion.
The portion allocated to cash investment in the Implementation Portfolio will range between US$ 21 billion and US$ 22 billion. According to the state-owned company, the updated projections do not represent an increase in the total project costs.
The new benchmark establishes a cycle of strong operational and financial returns for the country’s largest company.
With the revision of targets and continued progress in the E&P segments, the company reinforces its strategic position in the energy sector for the coming years.