Petrobras Maintains Pricing Policy and Boosts Oil Production

Petrobras CEO Magda Chambriard stated that the company suffered financial losses and a drop in market share by passing international volatility on to domestic prices. Current management advocates for a pricing policy that avoids excessive uncertainty for consumers during sharp fluctuations in oil barrel prices. The executive director of logistics, commercialization and markets, Angelica Laureano, emphasized that the company is not considering structural changes to its pricing policy.

In parallel with its commercial strategy, the company announced an increase in the production capacity of eleven offshore units. This volume gain occurs without the need for new financial investments by optimizing the operational performance of existing platforms in the Búzios, Atapu, Itapu, and Mero fields.

The financial results for the third quarter of 2026 show a net profit of 39.75 billion reais, which represents a 21.5% increase compared to the same period last year. Operating cash flow also grew, reaching 61.78 billion reais.

Based on operational performance, the state-run company raised its production projections for the year. The oil and gas extraction target was adjusted to a range between 3.3 and 3.4 million barrels of oil equivalent per day, while the planned investment for 2026 was revised upward.