From Yahoo Finance: 2025-05-13 05:49:00

Brazil’s Petrobras saw a 48.6% increase in net profit to 35.2bn reais in Q1 2025, with an adjusted EBITDA of 61bn reais. The company approved 11.72bn reais in dividends. Production increased by 5.4%, with total oil, gas, and gas liquids production at 2.77 mboe/d.

CEO Magda Chambriard stated Petrobras started 2025 with strong results. The company’s capex reached $4.1bn, up from $3bn year-on-year. CFO Fernando Melgarejo emphasized investments in pre-salt projects to sustain production growth. Investors are concerned about potential dividend reductions due to high investments.

Net revenue for the quarter rose by 4.6% to 123.1bn reais. Petrobras also made a significant oil discovery in the Santos Basin. The high-quality, contaminant-free oil was found in the pre-salt layer at the exploratory well 3-BRSA-1396D-SPS, 248km from Santos, São Paulo.

Read more: Petrobras reports 48.6% profit increase and declares $2.1bn in dividends