Workers at Petrobras have announced a nationwide strike starting December 15 due to a “disrespectful” labor agreement offer. Despite claims of a retirement fund deficit, operations are unlikely to be affected. Petrobras had a strong year in 2025, reaching record oil production of 3.14 million boe/day in 3Q25.

In the third quarter, Petrobras posted adjusted EBITDA near $12 billion and net income around $6 billion, driven by increased oil and gas production. The company lowered its 2025 capex to $17 billion and plans to invest $102 billion in 2024-2028. Private oil companies in Brazil are projected to raise production by 75% by 2030.

Global energy consultancy Wood Mackenzie forecasts that international oil companies like Shell and Equinor will be top producers in Brazil. These companies, along with Petrobras, are expected to increase production through partnerships in pre-salt and developing fields.

Read more at Yahoo Finance: Petrobras Workers Announce Nationwide Strike