Brasilia, Aug. 7, 2026 (Lusa) - Brazilian oil company Petrobras posted a net profit of $16.627 billion (€14.299 billion) in the first half of the year, up 55.3% year-on-year, the company has announced.

The Brazilian giant's profits for the second quarter amounted to $10.428 billion (€8.968 billion), 68.2% higher than in the same period last year and 120.3% higher than in the first three months of this year.

Owing to these strong results, Petrobras' board of directors approved the payment of dividends to shareholders totalling 17.4 billion reais (€2.94 billion) The company, which is controlled by the Brazilian state but whose shares are traded on the stock markets in São Paulo, New York and Madrid, attributed the strong growth in profits both to the rise in oil prices due to the conflict in the Middle East and to the record levels achieved in the production of crude oil and derivatives.

«The operational records we have achieved have led to one of the strongest quarterly financial results in Petrobras's history,» said the company's chief financial officer, Fernando Melgarejo, in a message sent to shareholders.

According to the company, the average price of a barrel of Brent crude rose by 29% over the past year, from an average of $71.7 per barrel in the first half of 2025 to $92.6 per barrel in the first six months of this year.

As for operating results, the company reported that in the second quarter it achieved a record production level of 3.34 million barrels of oil and natural gas equivalent per day, representing an increase of 14.1% compared with the same quarter of 2025 and 3.4% compared with the first three months of this year.

Oil production also reached an all-time high, at 2.7 million barrels per day, representing year-on-year growth of 15%.

EBITDA (earnings before interest, tax, depreciation and amortisation) rose by 52.2% to $29.964 billion (€25.769 billion) in the first six months of the year.

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