Petrobras' Train 2 expansion at Abreu e Lima is set to double capacity by 2029, boosting fuel output, jobs and Brazil's energy security.
PBR cuts its 2026-2030 budget by 2% while boosting pre-salt investment, targeting higher production and advancing new energy and sustainability projects.
Petróleo Brasileiro S.A. - Petrobras ( PBR ) Discusses New Business Plan and Production Growth Outlook for 2026-2030 November 28, 2025 2:30 PM EST Company Participants Eduardo de Nardi Ros Magda de Regina Chambriard - CEO & Non-Independent Director Fernando Melgarejo - Chief Financial Officer & Chief Investor Relations Officer Renata Baruzzi - Chief Engineering, Technology, & Innovation Officer Sylvia Couto dos Anjos - Chief Exploration & Production Officer Angelica Garcia Laureano - Chief Energy Transition & Sustainability Officer and Member of Executive Board William da Silva - Chief Industrial Processes, Products Officer and Member of Executive Board Conference Call Participants Monique Greco - Itaú Corretora de Valores S.A.
From a technical perspective, Petrobras (PBR) is looking like an interesting pick, as it just reached a key level of support. PBR recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
PBR will reportedly trim its five-year spending plan as falling oil prices push it to boost efficiency and focus on higher-output assets.
Petrobras delivered record oil and gas output in Q3, with pre-salt production hitting all-time highs and FPSO Almirante Tamandaré operating above nominal capacity. Despite Brent falling $11 YoY, PBR's adjusted EBITDA reached $12 B, showing exceptional efficiency, scale advantages and resilient cash generation. Cash flow remained strong, net debt/EBITDA stayed at 1.0x, and dividends reached R$12.2 B, increasing 40% YoY.
PBR boosts offshore capacity with P-84 and P-85 FPSOs as Sulzer supplies advanced pump systems for the Atapu and Sepia fields.
PBR's new Campos Basin find boosts its offshore momentum and adds a high-quality post-salt discovery to the deepwater portfolio.
PBR reportedly weighs trimming its 2026-2030 capex to $106 billion as weaker oil prices and political pressures shape its long-term strategy.
PBR beats Q3 earnings estimates on strong production growth, offsetting weaker oil prices and higher lifting costs.
Petrobras is upgraded to Strong Buy, citing record production, robust free cash flow, and favorable macro trends despite political risks. PBR reported an excellent Q3 with a record level of production (16.9% higher YoY), supported by major new projects and a solid growth pipeline. Macro catalysts include potential for lower Brazilian rates in the future combined with global rate cuts, OPEC production moves, and shifting geopolitical dynamics in oil markets.
Petrobras (PBR) is maintained at a Hold rating following Q3 2025 results, reflecting cautious optimism but persistent skepticism on future growth drivers. Q3 saw solid operational performance, with net revenue up 11.6% q/q and EBITDA margin rising to 50%, driven by strong volumes and exports. Concerns persist over rising CapEx in low-return segments, growing debt, and reduced potential for extraordinary dividends amid uncertain Brent and FX outlooks.