Petrobras 2025 net income jumps 160% to $19.6bn

Petrobras has reported consolidated nett income attributable to its shareholders of $19.6bn for the afloat twelvemonth 2025, compared to $7.53bn successful 2024, an summation of astir 160.3%.

According to the company, the betterment successful 2025 was mostly driven by overseas speech gains from the appreciation of the Brazilian existent against the dollar. Excluding one-off events, nett income reached $18.1bn, a diminution of astir 6.5% year-on-year (YoY) from $19.4bn successful 2024.

In the 4th fourth of 2025 (Q4 2025), nett income attributable to shareholders stood astatine $2.9bn, compared to a nett nonaccomplishment of $2.8bn successful Q4 2024.

Full-year 2025 income revenues reached $89.2bn, a diminution of 2.4% from $91.4bn successful 2024, owing to a 14.5% driblet successful mean Brent crude prices to $69.06 per tube (bbl) from $80.76/bbl successful 2024.

In Q4 2025, revenues roseate 13.4% to $23.6bn compared to $20.8bn successful Q4 2024. The show was driven by grounds lipid exports of 999,000 barrels per time (bpd) and higher home income of gasoline and pitchy fuel.

On a sequential basis, Q4 2025 revenues were marginally higher by 0.6% compared to Q3 2025's $23.5bn.

Adjusted net earlier interest, taxes, depreciation and amortisation (EBITDA) for 2025 stood astatine $42.5bn, up 5.3% from $40.4bn successful 2024.

Excluding one-off events, adjusted EBITDA was $43.8bn, down 4.6% from $45.9bn successful 2024, reflecting the interaction of little Brent prices partially offset by an 11% summation successful full lipid and state production.

In Q4 2025, adjusted EBITDA roseate 55% to $11.1bn from $7.2bn successful Q4 2024, though it declined 5.3% from $11.7bn successful Q3 2025. This was owed to seasonal softness successful diesel request and a 7.8% diminution successful Brent prices during the quarter.

Total operating expenses successful 2025 were $16.3bn, down 14.4% from $19.1bn successful 2024, reflecting little decommissioning provisions and different charges recorded successful the anterior year.

In Q4 2025, operating expenses stood astatine $5.3bn, a 25.9% alteration versus $7.2bn successful Q4 2024. However, they climbed 64.5% from $3.2bn successful Q3 2025, driven by impairment losses of $1.6bn and higher exploration write-offs.

Petrobras main fiscal serviceman and capitalist relations serviceman Fernando Melgarejo said: “2025 results corroborate the consistency of our strategy, based connected superior discipline, accumulation maturation and operational efficiency. Even successful a backdrop of a crisp diminution successful Brent prices, we generated $36bn successful operating currency for the year.

“We proceed to present a robust currency flow, supported by prime projects that summation production, with precocious returns and speedy currency generation. This coagulated operation creates worth and ensures lasting benefits for Brazilian nine and our shareholders.”