Petrobras reports BRL 52.4B net income in second quarter
Petrobras reported net income of BRL 52.4 billion (USD 10.4 billion) in the second quarter of 2026, up 97 percent from the same period in 2025. This is one of the highest quarterly results on record.
According to the company, the results were driven by record oil production of 2.7 million barrels per day, a refinery utilization rate of 101 percent, and export growth to nearly one million barrels per day.
The high refinery utilization rate resulted in daily production of 509,000 barrels of S-10 diesel and 109,000 barrels of jet fuel.
Total refined product output reached 1.9 million barrels per day, representing a 5.6 percent increase from the first quarter of 2026.
As refined product production increased, imports fell by 40 percent from the previous quarter.
“The operational records we achieved in this second quarter led to one of the strongest quarterly financial results in Petrobras’ history,” said Fernando Melgarejo, Chief Financial Officer and Head of Investor Relations.
Investments
Petrobras invested BRL 26.7 billion (USD 5.3 billion) in the second quarter of 2026. Of this amount, 82 percent was allocated to the exploration and production segment.
Notable investments this quarter included the construction of the P-80, P-82, and P-83 platforms, which are scheduled to begin operations in 2027.
