Petróleo Brasileiro S.A. – Petrobras reports that Brazil’s National Agency of Petroleum, Natural Gas and Biofuels approved Production Individualization Agreements (AIPs) for the Sururu and Berbigão shared reservoirs in the Santos Basin, effective May 1, 2026.
These reservoirs, producing since 2019 through the FPSO P-68 with capacity of 150,000 barrels of oil per day, are shared between the BM-S-11A concession and a Transfer of Rights Contract operated by Petrobras. The AIPs define each party’s percentage interests and the rules for joint development and production operations.
The agreements also provide that expenses and revenues related to volumes produced up to the effective date will be subject to financial settlement negotiations among Petrobras, Shell, TotalEnergies and Petrogal.
PETROBRAS - PETROLEO BRASILEIRO SA Chief Compliance Officer Ricardo Wagner de Araujo reported updated holdings of 10,676.5900 phantom shares referenced to PETR3 common shares. These phantom shares are granted under the Petrobras Performance Award Program, settle in cash upon vesting, and receive additional credits tied to 2025 fiscal year performance, dividends, and interest on equity.
PETROBRAS - PETROLEO BRASILEIRO SA reported an updated phantom share position for Chief Engineering Officer Renata Faria Rodrigues Baruzzi Lopes. She now holds 16,232.2800 phantom shares referenced to PETR3 common shares, granted under the Petrobras Performance Award Program and settled in cash upon vesting.
The deferred portion of this award vests in four equal annual instalments, and additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity. Footnotes indicate these additional phantom shares relate to the company’s 2025 fiscal-year performance award program and use a weighted average PETR3 price of 33.02 BRL over 60 trading sessions.
PETROBRAS - PETROLEO BRASILEIRO SA Chief Upstream Officer Sylvia Maria Couto Dos Anjos reported her position in cash-settled phantom shares tied to Petrobras common shares (PETR3). Following this update, she holds rights referenced to 16,457.7300 underlying shares at an exercise price of $6.6200 per share.
The phantom shares are granted under the Petrobras Performance Award Program, vest in four equal annual installments, and are settled in cash. Additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity, so the reported balance reflects both original awards and these credits.
PETROBRAS - PETROLEO BRASILEIRO SA executive Clarice Coppetti, Chief Corporate Affairs officer, reported her current holding of phantom shares tied to PETR3 common shares. After this update, she holds 16,232.2800 phantom shares, referenced to PETR3 and settled in cash under the Petrobras Performance Award Program.
The award’s deferred portion vests in four equal annual instalments, and additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity. The referenced share price is based on a 60-day weighted average, with a convenience conversion into U.S. dollars. This filing reflects compensation-related holdings rather than open-market share trading.
PETROBRAS - PETROLEO BRASILEIRO SA Chief Financial Officer Fernando Sabbi Melgarejo reports his phantom share holdings under the company’s long-term incentive plan. He holds 15,797.4800 phantom shares referenced to PETR3 common share prices, granted through the Petrobras Performance Award Program.
The phantom shares are settled in cash upon vesting, with the deferred portion vesting in four equal annual installments. Additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity, and this update reflects credits tied to the 2025 fiscal-year award rather than any open-market share purchase or sale.
Petróleo Brasileiro S.A. – Petrobras reports that it has been included in the Dow Jones Best-in-Class World Index for the second consecutive year. This index is based on the S&P Global Corporate Sustainability Assessment and highlights companies with strong environmental, social, and governance practices.
The company notes that it performed well in Transparency and Reporting, Community Relations, Human Capital Management, Water Management, Information Security, and Climate Strategy. Petrobras links this recognition to its 2026–2030 Business Plan, which seeks to combine value creation with environmental respect and care for people.
Petróleo Brasileiro S.A. – Petrobras reports that the P-79 platform in the Búzios field began production earlier than planned in its 2026–2030 business plan. P-79 can process 180 thousand barrels of oil per day and 7.2 million cubic meters of gas compression per day.
With this eighth platform in the Búzios field, total installed production capacity there rises to approximately 1.33 million barrels of oil per day. The project also enables gas exports to the mainland via the Rota 3 pipeline, with potential to expand Brazil’s gas supply by up to 3 million cubic meters per day.
P-79 is an FPSO unit designed to reduce emissions and improve efficiency and is part of the Búzios 8 development, which includes 14 subsea wells using intelligent completion systems. Búzios, discovered in 2010 in the pre-salt Santos Basin, is planned to host 12 FPSOs in total.
Petrobras reported very strong operational results for 1Q26, highlighted by record average production of oil, NGL and natural gas of 3.23 million boe per day, up 3.7% from 4Q25 and 16.1% from 1Q25. Growth was driven mainly by ramp-up of FPSOs P-78 and Alexandre de Gusmão in pre-salt fields and new wells in the Campos and Santos basins.
Pre-salt oil output reached 2,189 thousand barrels per day, 3.5% above the prior quarter, while total operated production climbed to 4.65 million boe per day. Refining performance was also strong: total oil products output rose 6.7% versus 4Q25 to 1,816 thousand barrels per day, with a high 95% refinery utilization factor and record S10 diesel production in March of 512 thousand barrels per day.
Net exports increased 73.9% year over year to 852 thousand barrels per day, supported by higher fuel oil exports and lower imports of diesel, gasoline and LPG. Natural gas sales grew 15% year over year to 46 million m³ per day, while Petrobras secured about 2.6 GW of firm thermoelectric capacity in Brazil’s 2026 Capacity Reserve Auction. Greenhouse gas emissions from oil and gas operations rose to 12.3 million tons of CO₂e, mainly reflecting higher production and refinery throughput.
PETROBRAS - PETROLEO BRASILEIRO SA director Guilherme Santos Mello filed an initial Form 3, which is a required statement of beneficial ownership for insiders. The filing reports no transactions in the company’s securities and shows no derivative positions disclosed in this snapshot.