Petróleo Brasileiro S.A. reported stronger interim results for the six months ended June 30, 2026. Consolidated sales revenues reached 293,216,000, up from 242,272,000 a year earlier, while net income attributable to shareholders rose to 85,108,000 from 61,861,000. Basic and diluted earnings per share increased to 6.60 from 4.80.
In the second quarter of 2026, sales revenues were 169,530,000 and net income 52,495,000. Consolidated net cash from operating activities for the first half grew to 105,788,000 from 91,762,000, against acquisitions of property, plant and equipment and intangibles of 46,774,000. At June 30, 2026, total assets were 1,279,019,000 and shareholders’ equity 481,854,000, up from 417,587,000 at year-end 2025, while non-current debt and lease obligations declined slightly to 306,043,000. The Exploration and Production segment generated 67,034,000 of first-half net income, ahead of 21,728,000 in Refining, Transportation & Marketing and 1,657,000 in Gas and Low Carbon Energies.
Petróleo Brasileiro S.A. – Petrobras reported very strong 2Q26 results, with sales revenues of US$ 33,607 million, up sharply from 1Q26. Consolidated net income attributable to shareholders was US$ 10,428 million, and net income excluding one-off events reached US$ 11,073 million. Adjusted EBITDA excluding one-off events was US$ 19,959 million, about 70% higher than in the prior quarter, supported by higher production, increased exports, and stronger Brent prices.
Operating cash flow was US$ 12,250 million and free cash flow US$ 7,659 million, enabling Capex of US$ 5,299 million, mainly in pre-salt E&P projects and refining, and shareholder remuneration of R$ 17.4 billion for 2Q26. Net debt fell to US$ 60,388 million, with the net debt/LTM Adjusted EBITDA ratio improving to 1.14x and average debt maturity extending to 11.9 years. In operations, total production rose 3.4%, refining utilization reached a record 101.2% with 68% high-value products, and lifting costs in Brazil were US$ 6.33/boe, reflecting efficiency gains across pre-salt assets.
Petróleo Brasileiro S.A. – Petrobras highlighted strong 2Q26 operating performance, with several new production records. Total oil and natural gas output reached 3.34 MMboed, with operated production of 4.87 MMboed and own pre-salt production of 2.78 MMboed. Own oil production in Brazil hit 2.7 MMbpd, up 15% versus 2Q25 and 4% versus 1Q26, supported by the early start-up of the P‑79 platform in Búzios and ramp-up of other FPSOs.
Downstream, refineries achieved a record quarterly utilization factor of 101.2%, helping lift oil products output to 1,918 mbpd, 5.6% above 1Q26, with 68% in higher value diesel, gasoline and jet fuel and record volumes of Diesel S10 and jet fuel. Oil product imports fell 40% between 2Q25 and 2Q26, while crude exports increased to 996 mbpd, and commercial gas production in 1H26 grew 18.7% year-on-year.
Capital allocation and fiscal contributions were also sizable. In 1H26, oil production averaged 2.6 MMbpd and cash capex reached US$ 9.1 billion, against a 2026 projection of US$ 16.9 billion. Taxes paid in 2Q26 totaled R$ 88.6 billion, R$ 22 billion above 2Q25. Petrobras reported 96% adherence to the Brazilian Corporate Governance Code and continued to advance ESG, innovation and bio-refining initiatives.
Petróleo Brasileiro S.A. – Petrobras approved shareholder remuneration of R$ 17.4 billion, equal to R$ 1.34814262 per outstanding common and preferred share, as an advance distribution for the 2026 fiscal year based on the balance sheet as of June 30, 2026.
The payout is aligned with Petrobras’ Shareholder Remuneration Policy, which, when debt conditions are met, calls for distributing 45% of free cash flow. Holders of shares on B3 of record on August 21, 2026 will receive two installments in November and December 2026, with ex-rights trading from August 24, 2026. ADR holders on the NYSE of record on August 25, 2026 will receive installments starting December 01, 2026 and December 29, 2026. Amounts are subject to withholding income tax and will be deducted from the remuneration to be decided at the 2027 Annual General Meeting.
Petróleo Brasileiro S.A. – Petrobras reported a new gas discovery at the Sandia-1 exploratory well in Block GUA-OFF-O, in deep waters offshore Colombia. The well lies about 42 kilometers from the coast in 1,251 meters of water, near the earlier Sirius and Copoazu discoveries, underscoring the area's gas potential.
Drilling began on 06/12/2026 and reached final depth on 07/29/2026 under what the company describes as high operational and safety standards. Gas-bearing zones are being evaluated through logs and laboratory analysis. Petrobras, through PIB-COL, operates the consortium with a 44.44% interest, alongside Ecopetrol with 55.56%, consistent with its strategy to replenish reserves and support energy transition goals.
Petróleo Brasileiro S.A. reported record 2Q26 operating performance, with average oil, NGL and natural gas production of 3.34 MM boed, 14.1% above 2Q25 and 3.4% above 1Q26. Growth was driven by higher pre-salt output, including the early start of FPSO P-79 in the Búzios field, which has 180 mbpd oil and 7.2 MM m³/d gas compression capacity.
Total operated production reached 4.87 MM boed, while Búzios platforms hit a record 1.2 MM bpd. Refinery utilization set an all-time high at 101.2%, supporting oil products output of 1,918 mbpd and helping cut oil products imports to 67 mbpd and crude imports to 89 mbpd, boosting net exports to 1,075 mbpd.
Domestic oil products sales were broadly stable at 1,742 mbpd, with higher diesel and LPG offsetting softer gasoline and jet fuel demand. Natural gas sales averaged 45 MM m³/day. Operational greenhouse gas emissions from oil and gas activities were 25.0 million tons CO2e in 1H26 versus 23.0 million in 1H25, while E&P emission intensity improved to 14.4 kgCO2e/boe.
Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors approved the election of William Vella Nozaki as interim Chief Energy Transition and Sustainability Officer (DTEN), effective August 1, 2026. He will assume the DTEN role on an interim basis.
Nozaki currently heads Integrated Energy Transition Management at Petrobras, a position he has held since August 2024, and has served on Transpetro’s Board of Directors since December 2023. This change updates leadership over the company’s energy transition and sustainability agenda.
Petróleo Brasileiro S.A. – Petrobras reports receipt of a new payment under Brazil’s Economic Subvention Program for diesel oil commercialization (Provisional Measure No. 1,340). The installment totals R$ 1.7 billion and covers the period from May 16 to May 31, 2026.
The company states that the cumulative amount received under this program has reached approximately R$ 6.4 billion, representing significant cash inflows linked to diesel oil sales conditions in Brazil.
BNDES and its subsidiary BNDESPAR report beneficial ownership of 865,743,903 Petrobras preferred shares, representing 15.90% of the outstanding preferred class, calculated on 5,446,501,379 preferred shares outstanding as of March 31, 2026.
BNDESPAR directly holds 730,495,645 preferred shares, or 13.41%, while BNDES directly holds 135,248,258 shares and may be deemed to beneficially own the full 865,743,903 shares through its ownership of BNDESPAR. Their combined holdings decreased from 916,700,003 shares due to open market sales. Preferred shares carry limited appointment and governance rights, but BNDES and BNDESPAR are currently prevented from voting these shares by a Brazilian Securities Commission decision. The reporting persons state they may dispose of, hedge, or otherwise adjust their Petrobras preferred stake and may exercise appointment rights, subject to bylaws and applicable law, while disclaiming beneficial ownership beyond their pecuniary interests.
Petróleo Brasileiro S.A. – Petrobras reported a change in a significant equity interest after receiving a letter from GQG Partners LLC. GQG informed the company that the total exposure of its client portfolio is now 185,869,498 American Depositary Receipts (ADRs), representing approximately 4.99% of the common shares issued by Petrobras. The notice was provided in line with Article 12 of CVM Resolution No. 44, which governs disclosure of relevant shareholdings in Brazil.