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
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
