Petrobras Class A

PBR.A

Market cap $76.6B

Brazilian state-run oil firm Petrobras expects to maintain its oil production at some 2.6 million or 2.7 million barrels per day until 2034 after ramping up around 2027, Chief Executive Officer Magda Chambriard said on Friday.

Brazilian state-run oil firm Petrobras' five-year investment plan will see its first cut under President Luiz Inacio Lula da Silva's government due to lower oil prices, three sources familiar with the matter told Reuters.

Petrobras delivered record oil and gas output in Q3, with pre-salt production hitting all-time highs and FPSO Almirante Tamandaré operating above nominal capacity. Despite Brent falling $11 YoY, PBR's adjusted EBITDA reached $12 B, showing exceptional efficiency, scale advantages and resilient cash generation. Cash flow remained strong, net debt/EBITDA stayed at 1.0x, and dividends reached R$12.2 B, increasing 40% YoY.

Petróleo Brasileiro S.A. - Petrobras delivered strong Q3 results, maintaining robust financials and production growth despite weak oil prices. PBR achieved record production, up 17% year-over-year, and remains focused on oil exploration and production, not green energy. The company declared a Q3 dividend, yielding 11% for PBR and 12% for PBR.A, with a sustainable payout ratio around 55-60%.

Petróleo Brasileiro S.A. - Petrobras is rated a 'Buy' due to strong competitive advantages and growth in proven reserves. PBR benefits from low production costs, expanding exports—especially to China—and increased oil and gas reserves, supporting future growth. Despite recent share price underperformance, PBR outshines peers in profitability and valuation metrics, with expectations for a recovery in share price.

Petrobras is upgraded to Strong Buy, citing record production, robust free cash flow, and favorable macro trends despite political risks. PBR reported an excellent Q3 with a record level of production (16.9% higher YoY), supported by major new projects and a solid growth pipeline. Macro catalysts include potential for lower Brazilian rates in the future combined with global rate cuts, OPEC production moves, and shifting geopolitical dynamics in oil markets.

Petrobras (PBR) is maintained at a Hold rating following Q3 2025 results, reflecting cautious optimism but persistent skepticism on future growth drivers. Q3 saw solid operational performance, with net revenue up 11.6% q/q and EBITDA margin rising to 50%, driven by strong volumes and exports. Concerns persist over rising CapEx in low-return segments, growing debt, and reduced potential for extraordinary dividends amid uncertain Brent and FX outlooks.

Organized workers from Brazilian state-run oil firm Petrobras rejected a work agreement offered by the company and its subsidiaries, which prompted the approval of a "state of strike," the workers' union said in a statement on Monday.

Brazil's Petrobras expects annual capital expenditures to be between the midpoint and top of its current estimates, as it rolls out investments faster than expected, the state-run oil company's chief financial officer said on Friday.

Brazilian state-run oil firm Petrobras on Thursday posted a $6.03 billion net profit for the third-quarter, a 2.7% increase when compared to the same period a year earlier.