The increase in the efficiency of Petrobras’ platforms enabled the company to post a profit in the third quarter of this year, according to an assessment by the board of executive directors.
According to company data, the group of platforms showed an efficiency gain of 4% in the period above that seen in the third quarter of 2024. The percentage is equivalent to the entry into operation of a new platform.
According to the executive director of Exploration and Production, Sylvia Anjos, this efficiency gain is “more or less equivalent to a platform [com capacidade de produção] from 160 thousand to 180 thousand barrels per day”.
The production capacity of the units, measured by the refinery utilization factor (FUT), was 94% in the third quarter. “This result was extraordinary”, celebrated William França, director of Industrial Processes and Products.
He relates success to the company’s production logistics and the sale of finished products for consumption. “We produce fewer core products with lower added value potential and [produzimos] more top products: diesel, gasoline and kerosene [de aviação]mainly”.
THE Petrobras balance sheetreleased on Thursday (6), recorded production of 3.14 million barrels of oil per day and that the state-owned company had a net profit of R$32.7 billion in the third quarter, 23% above the result for the same period last year.
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Brent
The executive director of Finance and Investor Relations, Fernando Melgarejo, highlighted that the gains were obtained despite the fall in the price of oil between the third quarter of 2024 and 2025. A barrel of Brent (crude oil used as a reference) fell from US$80.18 per barrel to US$69.07, a reduction of 13.85%.
“Despite the challenging scenario that the entire sector has been facing, both domestically and abroad, with special attention to the drop in the price of Brent, we increased our efficiency on several work fronts to obtain the consistent results that we presented in this last quarter, generating value for our shareholders and for society”, he said.
The Petrobras Board of Directors approved the payment of dividends worth R$12.16 billion.
Despite presenting positive results, Fernando Melgarejo ruled out the possibility of paying extra dividends to shareholders.
“The principle for us to be able to distribute extraordinary dividends is to have sufficient cash and results. We do not have, in our assessment, excess cash capable of distributing extraordinary dividends”, he explained.
No freezing
The executive director of Logistics, Commercialization and Markets, Claudio Schlosser, said that Petrobras is avoiding untimely transfers of changes in the value of fuel to prices at refineries.
“In the past, Petrobras carried out daily adjustments. It passed on all this volatility, extreme volatility, to internal prices”, he criticized.
According to him, the decision is a commercial strategy against price volatility. He guarantees that “there is no type of freeze” and that “current prices also indicate no loss of profitability”.
