Brazil’s Petrobras has reported a 48.6% improve in web revenue to 35.2bn reais within the first quarter of 2025 in contrast with the identical interval final 12 months, bolstered by non-recurring occasions.
The oil producer’s adjusted earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) barely elevated by 1.7% year-on-year to 61bn reais. Excluding non-recurring results, the adjusted EBITDA was reported at 62.3bn reais.
Along with its monetary efficiency, Petrobras’ board of administrators authorised the fee of 11.72bn reais in dividends and curiosity on fairness to shareholders, which interprets to round 0.91 actual per share.
Petrobras CEO Magda Chambriard stated: “We began 2025 with sturdy operational and monetary outcomes, which mirror Petrobras’ technical capability to beat challenges and generate worth for Brazilian society.
“We elevated our manufacturing by 5.4% in comparison with the final quarter of 2024 and thus reached a money place of $8.5bn with our operations, which permits us to take a position to proceed producing worth and remunerating our shareholders.”
The corporate’s capital expenditure (capex) through the quarter totalled $4.1bn, up from $3bn a 12 months earlier.
The full oil, gasoline and gasoline liquids manufacturing amounted to 2.77 million barrels of oil equal per day (mboe/d), a rise of 5.4% from the earlier quarter.
Petrobras CFO and investor relations officer Fernando Melgarejo stated: “We stay dedicated to executing our marketing strategy, which is why we invested $4.1bn within the first quarter of the 12 months, which represents 22% of the annual steerage. These investments are concentrated in pre-salt tasks, particularly within the Búzios and Atapu fields.
“We’re drilling extra wells and connecting them and advancing within the development of latest models that may maintain our manufacturing curve. These are funding tasks that generate worth for our shareholders and can translate into income within the coming years.”
Buyers have scrutinised Petrobras’ investments, particularly after they exceeded the corporate’s personal forecasts for 2024, elevating issues over potential dividend reductions, in keeping with a report by Reuters.
Web income for the quarter elevated by 4.6% to 123.1bn reais, barely under the 124.9bn reais analysts had anticipated.
In associated information, Petrobras made a major discovery of high-quality, contaminant-free oil within the pre-salt layer of the Santos Basin.
The discover was on the exploratory nicely 3-BRSA-1396D-SPS within the Aram block, located 248km from Santos, São Paulo, in waters 1,952m deep.
“Petrobras studies 48.6% revenue improve and declares $2.1bn in dividends” was initially created and revealed by Offshore Expertise, a GlobalData owned model.
