Q2 profits soared for Petrobras as commodity prices held strong
Petrobras’ recipe for upstream success
Fading market volatility and rising global energy demand should boost the operator’s focus on pre-salt crude growth
Brazilian state oil company Petrobras is emerging from the pandemic better positioned than many NOCs. Production and exports are climbing, margins are rebounding and divestments are helping pay down billions in debt. Even the company’s share price is ticking up, with Q2 profits just shy of $8bn. Ambitious production plans are at the centre of investor confidence. Pre-salt crude production jumped up 3pc quarter on quarter as platforms at the Atapu, Berbigao and Sururu fields ramped up to capacity. Output from the region now comprises about 70pc of Petrobras’ upstream portfolio, boasting some of the lowest lifting costs globally and most attractive crude grades. “The pace of the divestme
Also in this section
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
27 March 2025
Awards celebrate global innovation, leadership and achievement across the energy sector’s people, projects, technologies and companies.
26 March 2025
Well-functioning democracies are required for healthier economies and a thriving oil industry
