Petrobras pairs record profit with R$15.3bn shareholder payout

Petrobras pairs record profit with R$15.3bn shareholder payout
Petrobras reported net profit of R$39.8 billion for the third quarter of 2026, a 21.5% increase from a year earlier, as the state-controlled oil company combined expanding production with higher operating cash flow. Its board also approved R$15.3 billion in shareholder remuneration, linking the stronger quarter to a payout due early next year.

The company’s operating case rests on scale and investment. Operating cash flow rose 15% over 12 months to R$61.8 billion, while quarterly oil production set a record for the third consecutive period in 2026. Petrobras said it invested R$33 billion during the quarter, including R$27.5 billion in exploration and production, funding platform construction and well connections.

Chief executive Magda Chambriard said the production outlook had improved beyond the company’s earlier plans: “Our projection was to end the year with average production of 3.1 million barrels of oil equivalent per day, but our estimates now point to an average between 3.3 and 3.4 million barrels per day.” Domestic fuel sales and diesel output also reached quarterly highs cited in the results, underscoring the contribution of the refining business.

For shareholders, the board approved remuneration equivalent to R$1.18732774 per ordinary and preferred share, based on the balance sheet dated September 30. Investors holding Petrobras shares on Brazil’s B3 exchange on December 21 will be eligible; the shares will trade without entitlement from December 22.

The payment will be split evenly, with R$0.59366387 per share due on February 22 and March 22, 2027. Petrobras said it will decide by December 10 whether the distribution will be made as dividends, interest on equity, or a combination of the two.

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