Petrobras announced net income of R$ 32.7 billion in the first quarter of 2026, a result representing 110% growth compared to the fourth quarter of 2025.
According to the state-controlled company, the positive performance was driven mainly by increased domestic oil and gas production, higher sales of derivatives, and a favorable international oil scenario.
The company reported that domestic production advanced 16% compared to the same period last year. Another decisive factor for the results was the 27% appreciation of Brent crude oil relative to the last three months of 2025, in addition to the appreciation of the Brazilian real against the dollar.
The company's operating cash flow reached R$ 44 billion in the period, while adjusted Ebitda came in at R$ 59.6 billion, equivalent to US$ 11.3 billion.
Petrobras also increased investments in the quarter. Capital expenditures reached R$ 26.8 billion, a value 25.6% higher than that recorded in the same period of the previous year.
According to the company's chief financial officer and investor relations director, Fernando Melgarejo, the investments made it possible to increase oil and derivatives production, as well as ensure high operational levels at the state-controlled company's refineries.
The company highlighted that the refining park operated near maximum capacity during the first quarter of 2026, in line with growing energy demand and exports.
Among the main operational results, Petrobras registered a record for total operated production, reaching 4.65 million barrels of oil equivalent per day. Total domestic production reached 3.23 million barrels per day, while pre-sal domestic production reached 2.66 million barrels per day.
Another highlight came from the Santos Basin, where platforms achieved the highest daily gas export volume ever recorded, with 44.8 million cubic meters on March 28.
The state-controlled company also reported that it allocated R$ 72.4 billion to payment of taxes, royalties, and special participation to the Union, states, and municipalities. Additionally, the board approved the distribution of R$ 9 billion in dividends and interest on shareholders' equity to shareholders.
The results reinforce Petrobras's strategic role in the Brazilian energy sector and in balancing public accounts linked to royalty collection and tax revenue.
