Petrobras reported a net profit of R$32.7 billion in the third quarter of 2025, up 0.5% from the same period last year. The state-owned company announced R$12.1 billion in dividends, driven by production and export records. Year-to-date profit stands at R$94.5 billion.
Petrobras released its third-quarter 2025 earnings on the evening of November 6, reporting a net profit of R$32.7 billion, a 0.5% increase from the third quarter of 2024. Excluding extraordinary events, adjusted profit was R$28.5 billion, down 6.1%. Compared to the second quarter, results rose 22.7%, from R$26.7 billion to R$32.7 billion.
Sales revenue fell 1.3% year-over-year to R$127.9 billion but increased 7.4% from the second quarter. In dollars, profit was US$6.03 billion, up 2.7% year-over-year, and revenue US$23.5 billion, a 0.5% rise. EBITDA grew 0.4% to R$63.9 billion.
"Petrobras is generating positive financial results and returns to its shareholders, even amid the new oil price levels," said CFO Fernando Melgarejo, noting Brent's US$11-per-barrel drop over 12 months.
Production hit a record 3.14 million barrels of oil equivalent per day, up 3.19% year-over-year, surpassing the 2019 peak. Oil exports reached 814,000 barrels per day, and including derivatives, exceeded 1 million. Fuel production dropped 1.5% to 1.79 million barrels per day, but domestic sales rose 1.9% to 1.8 million.
Exploration and production profit was R$28.1 billion, down 6.2%, while refining, transportation, and marketing more than doubled to R$3.1 billion, aided by exports. Quarterly investments totaled US$5.5 billion, up 23.7%, nearly all in exploration; year-to-date, US$14 billion, a 28.9% increase.
Year-to-date in 2025, the company distributed R$32.4 billion in dividends.