# Petrobras Reports R$ 39.8 Billion Profit in Third Quarter State-controlled oil giant sees 21.5% profit growth alongside record production levels in 2026. - **Source:** [Agência Brasil](https://agenciabrasil.ebc.com.br) - **Published:** 2026-11-11 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/62ed3f6a-4da9-4254-92ed-0f5b370403f3 ## Strong Quarterly Financial Performance Petrobras achieved a net profit of R$ 39.8 billion in the third quarter of 2026, marking a 21.5% increase compared to the same period last year. The company also reported an operational cash flow of R$ 61.8 billion, equivalent to US$ 12 billion, representing a 15% growth over the previous twelve months. ## Upward Revision of Production Targets CEO Magda Chambriard announced that the company has raised its annual production forecast. While the initial projection was 3.1 million barrels of oil equivalent per day, estimates now point to a range between 3.3 and 3.4 million barrels daily, reflecting consistent operational success throughout the current fiscal year for the firm. ## Sequential Production Records Achieved The company successfully broke its quarterly oil production record three times in 2026, demonstrating a strong sequential growth trend. This performance was bolstered by authorization for 11 existing platforms to operate above their original design capacities, effectively increasing output without requiring additional capital expenditure on those specific production units during the period. ## Refining and Domestic Market Sales Domestic sales of refined products reached 1.854 million barrels per day, the highest volume recorded since the third quarter of 2021. Furthermore, the company set a quarterly record for diesel production at 769,000 barrels per day, while total production of all derivatives reached 1.873 million barrels per day during the third quarter. ## Capital Investment and Infrastructure Total investments for the quarter amounted to R$ 33 billion, or US$ 6.4 billion. The vast majority of this capital, totaling R$ 27.5 billion, was allocated specifically to the exploration and production segment. These funds were primarily utilized for the construction of new platforms and the complex interlinking of various oil wells. ## Dividend Distribution Plan Approved The board approved a total of R$ 15.3 billion in dividends and interest on equity to be distributed among public and private shareholders. This payout reflects the company's robust cash position and commitment to returning value to investors following the strong financial results reported for the third quarter of 2026. ## Payment Schedule for Shareholders The approved dividends will be disbursed to shareholders in two distinct installments. The first payment is scheduled for February 22, 2027, followed by the second installment on March 22, 2027. This structured payment plan ensures liquidity management while fulfilling the company's obligations to its diverse base of public and private investors. ## Operational Efficiency and Future Outlook The ability to increase production without extra investment highlights significant gains in operational efficiency within Petrobras's current refining park. By maximizing existing assets, the company has positioned itself to exceed initial annual targets, signaling a strong trajectory for the remainder of the fiscal year despite the complexities of global energy markets. ## Sources covering this story - https://agenciabrasil.ebc.com.br/economia/noticia/2026-11/petrobras-tem-lucro-de-r-398-bilhoes-alta-de-215 — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._