Petróleo Brasileiro S.A. – Petrobras reports that its Board has approved the final investment decision for the SEAP I project in the Sergipe-Alagoas Basin, completing the investment decision process for the Sergipe Deepwater (SEAP) development alongside SEAP II, approved in December 2025. Together, SEAP I and II involve total investments exceeding R$ 60 billion and are expected to produce more than 1 billion barrels of oil equivalent over their lifetimes.
Two FPSO platforms, P-81 for SEAP I and P-87 for SEAP II, will be built and operated by SBM Offshore under a Build, Operate and Transfer model, with combined capacity of up to 240,000 barrels of oil per day and 22 million cubic meters of natural gas per day. SEAP II oil production is scheduled to start in 2030, with gas exports in 2031, while SEAP I production is planned after the 2026–2030 Business Plan horizon. The projects also include 32 wells and a 134 km export gas pipeline and are described as strategic for expanding Brazil’s natural gas availability and opening a new production frontier in the Northeast.
Petróleo Brasileiro S.A. – Petrobras has approved resuming construction of its Nitrogen Fertilizer Unit UFN-III in Três Lagoas, Brazil, after a new review aligned with its Business Plan 2026-2030 confirmed a positive Net Present Value in all evaluated scenarios.
The company estimates about US$ 1 billion in investment to complete UFN-III, with commercial operations targeted for 2029 and construction expected to restart in the first half of 2026. The unit is designed to produce roughly 3,600 tons per day of urea and 2,200 tons per day of ammonia, including 180 tons per day of surplus ammonia for sale.
Petrobras highlights that the decision followed internal approval processes and governance controls. Returning to the fertilizer segment supports its strategy to expand the natural gas market and reduce Brazil’s reliance on imported nitrogen fertilizers, for which national urea consumption is around 8 million tons per year.
Petróleo Brasileiro S.A. – Petrobras reported a new hydrocarbon discovery in the pre-salt of the Campos Basin. The exploratory well 1-BRSA-1404DC-RJS, in block C-M-477 (Sector SC-AP4), is located 201 km off the coast of Rio de Janeiro at 2,984 meters water depth.
Hydrocarbon presence was identified through electric logs, gas shows, and fluid sampling. Samples will be analyzed in laboratories to characterize reservoir conditions and fluids, supporting continued evaluation of the area’s potential. Petrobras operates the block with a 70% working interest, alongside bp with 30%, under a concession from ANP’s 16th Bidding Round, consistent with its strategy to replenish oil and gas reserves in frontier exploratory areas.
Petróleo Brasileiro S.A. – Petrobras signed contracts to buy back the 50% interests in the Tartaruga Verde field and Module III of the Espadarte field from Petronas Petróleo Brasil, restoring a 100% stake and operatorship in these Campos Basin assets.
The transaction totals US$450 million, with US$50 million paid at signing, US$350 million due at closing based on an effective date of July 1, 2025, and two deferred installments of up to US$25 million each, 12 and 24 months after closing. Completion depends on conditions in the purchase agreement, including approval by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels.
The fields lie in water depths of roughly 700–1,620 meters and are currently produced via the FPSO Cidade de Campos dos Goytacazes, with output around 55,000 barrels of oil per day.
Petróleo Brasileiro S.A. – Petrobras submitted a Form 6-K to report that it has filed its Annual Report on Form 20-F for 2025, covering the year ended December 31, 2025, with the U.S. Securities and Exchange Commission.
The Form 20-F is available on both the SEC website and Petrobras’ investor relations website. Holders of Petrobras American Depositary Receipts (ADRs) can request a free hard copy of the complete audited financial statements by contacting the company’s investor relations team via the e-mail addresses provided.
Petróleo Brasileiro S.A. – Petrobras convenes its 2026 Annual General Meeting for April 16, 2026, to approve 2025 financial statements, 2026 capital budget, profit allocation, board and Fiscal Council elections, and management compensation. The 2026 capital budget totals R$ 114 billion, mainly for Exploration & Production.
For 2025, Petrobras reports net income of R$ 110,128,538,405.46 and proposes total dividends of R$ 41,235,750,000.00, equal to R$ 3.19936420 per preferred and common share, or 37.44% of net income. Additional interest on equity of R$ 8,071,299,265.68 is planned, payable in May and June 2026, with the balance retained mainly for investment under the approved capital budget.
Petróleo Brasileiro S.A. – Petrobras files its 2025 Form 20-F annual report, outlining a large, state-influenced integrated oil and gas group that operates mainly in Brazil but also across the Americas, Africa and Europe. The company highlights its focus on deepwater exploration, extensive refining capacity and a gradual shift toward low‑carbon and renewable businesses.
Petrobras reports market capitalization of US$74.8 billion as of December 31, 2025 and more than 50,000 employees. The report details major risk factors, including operational safety, cyber and AI-related threats, high leverage and liquidity constraints, regulatory and tax changes, climate transition pressures, and potential impacts from litigation, governance conflicts with the Brazilian federal government and global geopolitical instability.
Petróleo Brasileiro S.A. – Petrobras reports that its Controlling Shareholder, the Brazilian Federal Government, has nominated Guilherme Santos Mello to join the company’s Board of Directors, replacing Bruno Moretti. The Controlling Shareholder has also asked that he be considered for the role of Chairman at the Annual General Meeting scheduled for April 16, 2026.
These nominations will undergo Petrobras’ internal governance review, including checks on legal, management, and integrity requirements. The company highlights Mello’s academic background in economics and his experience as a professor and as Secretary of Economic Policy at Brazil’s Ministry of Finance, as well as his board roles at BNDES, PPSA, and previously BB Seguridade.
Petróleo Brasileiro S.A. – Petrobras reports a board leadership change. The Board of Directors has elected director Marcelo Weick Pogliese as Chairman of the Board, in accordance with §2 of Article 18 of the company’s Bylaws.
He will serve as Chairman until the next General Meeting, indicating this is an interim mandate subject to shareholder confirmation or change at that meeting. The notice does not include financial results or strategic updates; it is focused on corporate governance and board organization.
Petróleo Brasileiro S.A. – Petrobras reports changes in its Executive Board. The Board of Directors approved the early termination of Chief Logistics, Commercialization and Markets Officer Claudio Romeo Schlosser, effective immediately.
The Board appointed Angélica Laureano as the new Chief Logistics, Commercialization and Markets Officer, effective April 7, 2026, with a unified mandate running until April 2027. The Chief Industrial Processes and Products Officer, William França, will also temporarily assume the role of Chief Energy Transition and Sustainability Officer, previously held by Angélica, in addition to his current duties.