Petrobras breathes easy
Brazilian company posts best financial results since bribery scandal
Petrobras has finally announced a positive annual result, five years after the Lava Jato corruption probe left the Brazilian state-controlled company with spiralling debts. The firm closed the year with a $25.8bn net profit, the highest figure in seven years, and a total of R$20.2bn ($5.27bn) in asset sales. Improved crude and fuel prices largely contributed towards the strong year. Oil jumped 50pc year-on-year, in reals, and fuel 32pc yr-on-yr. Even a slight dip in production failed to impact the company's finances — production fell to 2.63mn bl/d oe from a record 2.65mn bl/d oe the year before. Output is set to rise again this year and further boost the firm's bottom line. Four new product
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
