Brazilian state oil company Petrobras achieved a net income of BRL32.7 billion ($6 billion) in the third quarter of 2025, a 23 per cent increase compared to the second quarter.
The strong result was driven by a five per cent sequential increase in oil and gas production, which reached 3.14 million barrels of oil equivalent per day (boed).
Adjusted EBITDA for the quarter was BRL63.9 billion, with an Operating Cash Flow of BRL53.7 billion. Excluding non-recurring events, net income was BRL28.5 billion.
The results were also supported by a slight increase in Brent oil prices. The company invested BRL30 billion during the quarter, primarily focused on pre-salt projects.
Fernando Melgarejo, Chief Financial and Investor Relations Officer, highlighted the company's efficiency gains.
"We have increased our efficiency, reduced production shutdowns, and reached the peak production of the FPSO Almirante Tamandaré, surpassing its nominal capacity," he stated.
Operational highlights included the FPSO Almirante Tamandaré reaching its peak production of 225,000 bpd three months ahead of schedule, and the FPSO Marechal Duque de Caxias achieving a production level of 200,000 bpd, 20,000 bpd above its nominal capacity.
Petrobras also achieved a record for oil exports in the quarter, at 814,000 barrels per day.
Total net debt remained stable at $59.1 billion. For the first nine months of 2025, Petrobras has paid almost BRL200 billion in taxes and approved BRL12.16 billion in dividends and interest on equity.
