Petrobras Tops Estimates as Output Counters Oil Slide
The Petrobras Paulinia Replan Refinery in Paulinia, Sao Paulo state, Brazil.
Photographer: Maira Erlich/BloombergBrazil’s state-controlled oil producer Petrobras surpassed profit expectations after robust oil production and record exports helped cushion the impact of weaker crude prices. Shares rose.
The company accelerated output from its reserves in the pre-salt, a deep-water region that delivers roughly 80% of Brazil’s crude production. Average 2025 production of 2.4 million barrels a day beat Petrobras’s target and forth quarter exports surged 97% on year to a record.