Petróleo Brasileiro S.A. – Petrobras details nominations to its Board of Directors and Fiscal Council ahead of the 2026 Shareholders’ General Meeting. The controlling shareholder proposes a slate of board members, mostly reappointments, including the chair, along with several candidates for the Fiscal Council.
Minority shareholders nominate alternative candidates for the board in the event of cumulative voting and separate elections, as well as members and alternates for the Fiscal Council tied to common and preferred shares. An employees’ representative has been elected to the board for the 2026–2028 term.
All nominees will undergo Petrobras’ internal governance process, including analysis of legal, management, and integrity requirements, with review by the Eligibility Committee and the Board of Directors. The minutes of these reviews will be made available on the company’s investor relations website and at the Brazilian securities regulator.
Petróleo Brasileiro S.A. – Petrobras is inviting investors and the market to a webcast presentation of its 2025 fourth-quarter (4Q25) results. The event will take place on March 6, 2026, at 11:30 a.m. Brasília time, with corresponding times of 9:30 a.m. in New York and 2:30 p.m. in London.
The presentation will be conducted in Portuguese with simultaneous English translation, and access links will be provided via the company’s investor relations website. The notice also includes a standard cautionary statement regarding forward-looking information made by the company’s officers.
Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors has decided not to exercise its Preemptive Rights and Tag Along Rights in connection with a potential transaction involving the transfer of shares of Braskem S.A. held by NSP Investimentos S.A., a Novonor subsidiary, to Shine I FIDC. The Executive Board is authorized to take the necessary measures to implement this decision, and Petrobras states that any material facts, including when it receives the final terms of the transaction, will be promptly disclosed to the market.
Petróleo Brasileiro S.A. – Petrobras will pay on February 20, 2026 the first installment of shareholder remuneration related to the 2025 fiscal year, based on the September 30, 2025 balance sheet and shareholder position on December 22, 2025.
This installment for common and preferred shares will be paid as interest on capital, at R$ 0.47160378 per share, plus a Selic rate monetary adjustment of R$ 0.00892089 per share, for a total of R$ 0.48052467 per share.
Payments will be processed by Banco Bradesco for local shareholders, by B3 deposit brokers for custodial accounts, and by JP Morgan Chase for ADR holders on the New York Stock Exchange, with ADR payments starting February 27, 2026.
Petrobras (PBR) reports record 2025 operational performance, led by pre-salt growth and stronger refining output. Total oil and gas production reached 2.99 million boe/day, up 11% from 2024 and above the upper end of guidance, with pre-salt oil at 2,020 thousand bpd.
Record operated production of 4.32 million boe/day and new FPSOs at Búzios and Mero drove volumes, while reserves grew by 1.7 billion boe, giving a 175% reserve replacement rate and 12.5-year R/P ratio. Domestic oil product sales rose 1.6%, supported by diesel, gasoline, jet fuel and higher S-10 diesel penetration, and oil exports hit an annual record of 765 thousand bpd.
The refining system ran at a 91% utilization factor, added capacity at RNEST and REPLAN, and delivered several diesel and gasoline production records. Petrobras expanded low-carbon initiatives with SAF deliveries, renewable-content diesel and bunker fuels, and a renewables joint venture with Lightsource bp, while keeping E&P GHG intensity at 14.7 kgCO2e/boe, meeting its 2025 target.
Petróleo Brasileiro S.A. – Petrobras reports receiving an earnout payment of R$ 1.65 billion from partners in the Sépia and Atapu offshore fields, linked to fiscal year 2025.
The payment comes from TotalEnergies, PETRONAS and QatarEnergy in Sépia, and Shell and TotalEnergies in Atapu, each holding specific participation percentages. These earnout amounts were defined by Brazil’s Ministry of Mines and Energy and a 2021 bidding round, and are payable between 2022 and 2032 when the Brent oil price averages between US$ 40 and US$ 70 per barrel in a given year.
Petróleo Brasileiro S.A. – Petrobras reports that it has agreed to acquire a 42.5% stake in offshore exploration Block 2613 in the Lüderitz Basin in the Republic of Namibia. TotalEnergies is also acquiring 42.5% and will operate the block.
After completion, the consortium will comprise Petrobras with 42.5%, TotalEnergies with 42.5%, Eight Offshore Investment Holdings with 5%, and Namcor Exploration and Production (PTY) Ltd, a Namibian state-owned company, with 10%. The block covers about 11,000 km².
Petrobras states that this deal marks its return to Namibia and aligns with its 2026–2030 Business Plan by diversifying its portfolio and seeking new oil and gas reserve frontiers through exploration and strategic partnerships. Closing remains subject to conditions precedent, including governmental and regulatory approvals in Namibia.
Petróleo Brasileiro S.A. – Petrobras has scheduled the release of its fourth-quarter 2025 information. The company will publish its 4Q25 Production and Sales Report on February 10, 2026 and its 4Q25 Financial Results on March 5, 2026, both after markets close.
On March 6, 2026, Petrobras will host a webcast to present the 4Q25 results, conducted in Portuguese with simultaneous English translation, giving global investors access to management’s discussion of the company’s performance.
Petróleo Brasileiro S.A. – Petrobras reports proved oil, condensate and natural gas reserves under SEC rules of 12.1 billion barrels of oil equivalent (boe) as of December 31, 2025. Oil and condensate make up 84% of this total and natural gas 16%.
The company added 1.7 billion boe of proved reserves in 2025, delivering a reserve replacement rate of 175% despite record annual production, and a proved reserves-to-production ratio of 12.5 years. Growth came mainly from key Brazilian fields such as Búzios, Tupi, Itapu and Mero, with no relevant impact from oil price changes.
Petróleo Brasileiro S.A. – Petrobras reports that in 2025 its oil production reached 2.40 million barrels per day, an 11% increase versus 2024 and slightly above the upper limit of its 2025–2029 Business Plan target. Total oil and natural gas output was 2.99 million barrels of oil equivalent per day, also up 11% year over year, while commercial production was 2.62 million boed and exceeded the top end of guidance.
The company states that oil, commercial, and total production all set new annual records in its more than 70 years of operations. Pre-salt output was a key driver, with own production of 2.45 million boed and operated production of 3.70 million boed, representing 82% of total production. New and ramping FPSO platforms in fields such as Búzios, Mero, Jubarte, Marlim, and Voador, plus higher operational efficiency, underpinned the stronger volumes.