Under Petrobras’ updated 2026 plan, projects already in implementation carry a $24 billion to $25.5 billion spending range; currency movements and faster execution drove the change.
The earlier estimate for that portfolio was $19.4 billion. Petrobras separately revised its cash capital expenditure guidance to $21 billion to $22 billion. It said foreign-exchange effects and execution better than planned were the main reasons for the portfolio adjustment, citing progress on platforms and well connections.
Adjusted EBITDA was R$85.82 billion, up 34% year over year in reais but below Bloomberg’s R$95.59 billion average analyst estimate. Petrobras also reported a third consecutive quarterly production record. Bloomberg characterized refining margins as strong.
Petrobras’ dollar-denominated financial report put adjusted EBITDA at $16.703 billion, up 42.4% from a year earlier. The two growth rates use different currency bases.
The company’s board approved R$15.3 billion in dividends and interest on equity. Bloomberg reported that the dollar-converted shareholder distribution of $2.7 billion was below the $3.8 billion average of estimates from three analysts.
Bloomberg’s report said Petrobras planned to publish its revised five-year business plan by Nov. 30.
