IBOV 173,107.90 ▼ 0.15% IPSA 10,963.36 ▲ 0.61% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,294,537 ▲ 2.20% COLCAP 2,319.30 ▲ 0.91% BVL PERÚ 56,620.35 — — USD/BRL5.07▼ 0.39% USD/MXN17.40▼ 0.20% USD/CLP933.88▼ 0.07% USD/COP3,223▼ 1.39% USD/PEN3.39▲ 0.09% USD/ARS1,478▼ 0.27% USD/UYU40.11▲ 1.23% USD/PYG6,045▲ 1.76% USD/BOB10.80▲ 2.69% USD/DOP58.02▲ 0.31% USD/CRC446.12▲ 1.15% USD/GTQ7.62▲ 2.33% USD/HNL26.74▲ 1.61% USD/NIO36.62▲ 0.84% USD/VES735.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.79▲ 0.73% USD/TTD6.73▲ 1.11% EUR/BRL5.78▼ 1.27% BRENT 91.29 ▲ 2.32% WTI 84.56 ▲ 1.60% IRON ORE 161.91 — — COPPER 6.53 ▲ 3.60% GOLD 4,088 ▲ 1.93% SILVER 59.06 ▲ 3.98% SOY 1,222 ▼ 0.31% CORN 475.25 ▲ 5.73% WHEAT 678.50 ▲ 0.67% COFFEE 322.80 ▼ 3.47% SUGAR 14.90 ▲ 0.54% ORANGE JUICE 142.30 ▼ 3.46% COTTON 80.03 ▲ 3.44% COCOA 5,606 ▲ 1.56% BEEF 223.05 ▼ 1.53% CATTLE 344.88 ▼ 2.02% LITHIUM 69.25 ▲ 3.48% PETR4 41.66 ▲ 1.24% VALE3 72.28 ▲ 0.49% ITUB4 42.52 ▲ 0.52% BBDC4 18.59 ▲ 0.98% ABEV3 15.84 ▲ 0.32% BBAS3 20.77 ▲ 2.97% B3SA3 15.11 ▼ 0.98% WEGE3 42.68 ▼ 1.04% PRIO3 58.42 ▲ 1.27% SUZB3 41.70 ▼ 0.45% RENT3 36.59 ▼ 2.40% AZZA3 17.50 ▼ 3.69% CSAN3 3.80 ▼ 0.52% RAIZ4 0.28 ▲ 3.70% PCAR3 2.71 ▲ 4.23% GMAT3 3.82 ▼ 0.78% PSSA3 53.31 ▼ 1.64% CVCB3 1.14 ▲ 5.56% POSI3 3.72 ▲ 0.54% SLCE3 13.65 ▲ 0.59% NATU3 8.71 ▲ 0.93% BRKM5 5.76 ▼ 3.03% RANI3 7.90 ▼ 1.13% CSNA3 5.05 ▼ 0.39% CMIN3 5.56 ▲ 3.15% USIM5 8.45 ▲ 3.55% GGBR4 23.46 ▼ 0.68% ENEV3 25.42 ▼ 0.90% CPFE3 46.65 ▲ 0.71% CMIG4 11.04 ▲ 0.18% EQTL3 38.60 ▼ 1.76% LREN3 13.27 ▼ 0.30% VIVT3 35.74 ▲ 0.20% RAIL3 13.24 ▼ 2.43% KLABIN 17.57 ▲ 0.51% RAIA DROGASIL 18.21 ▼ 2.57% RDOR3 33.83 ▼ 4.57% HAPV3 11.27 ▼ 2.42% FLRY3 16.44 ▼ 0.72% SMTO3 15.49 ▲ 0.52% UGPA3 31.79 ▲ 0.28% VBBR3 33.86 ▼ 0.73% BBSE3 41.46 ▲ 1.00% BPAC11 55.75 ▼ 0.16% CURY3 29.88 ▼ 1.03% AERI3 2.05 ▼ 0.97% VIVARA 21.48 ▼ 2.19% COMPASS 24.39 ▼ 0.85% VAMOS 3.06 ▼ 0.97% SANB11 27.32 ▲ 1.15% ASAI3 8.21 ▲ 0.86% SBSP3 28.75 ▼ 0.79% WALMEX 49.20 ▼ 0.36% GMEXICO 208.04 ▲ 3.59% FEMSA 226.42 ▼ 0.24% CEMEX 22.05 ▲ 0.78% GFNORTE 185.97 ▲ 3.32% BIMBO 59.15 ▼ 0.59% TELEVISA 9.76 ▲ 0.51% AMX 22.75 ▲ 0.04% GAP 377.63 ▼ 0.15% ASUR 274.63 ▲ 0.09% OMA 225.34 ▼ 0.49% KOF 180.53 ▼ 0.15% GRUMA 282.95 ▼ 1.62% KIMBER 38.17 ▼ 0.57% SQM-B 64,558 ▲ 2.28% COPEC 6,374 ▲ 2.81% BSANTANDER 79.87 ▲ 4.97% FALABELLA 5,906 ▲ 0.53% ENELAM 84.54 ▲ 0.51% CENCOSUD 2,020 ▲ 1.26% CMPC 1,085 ▲ 1.81% BANCO CHILE 190.53 ▲ 2.17% LATAM AIR 24.28 ▼ 0.53% YPF 80,300 ▲ 1.39% GGAL 7,935 ▲ 1.15% PAMPA 5,470 ▲ 3.80% TXAR 676.00 ▲ 0.82% ALUAR 968.50 ▲ 0.94% TGS 9,755 ▲ 2.68% CEPU 2,340 ▲ 2.23% MIRGOR 16,825 ▼ 1.75% COME 43.00 ▲ 0.12% LOMA NEGRA 3,605 ▲ 0.91% BYMA 293.50 ▼ 0.09% TELECOM ARG 4,215 ▲ 1.69% ECOPETROL 16.49 ▲ 2.84% BANCOLOMBIA 83.31 ▲ 3.07% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 391.61 ▲ 1.23% SOUTHERN COPPER 185.72 ▲ 6.08% BUENAVENTURA 31.31 ▲ 4.16% MERCADOLIBRE 1,817 ▼ 0.83% NUBANK 14.25 ▲ 1.82% XP 16.78 ▼ 0.15% PAGSEGURO 9.57 ▲ 2.96% STONE 11.29 ▲ 1.53% GLOBANT 32.06 ▼ 0.71% TECNOGLASS 45.34 ▼ 1.67% GAP AIRPORT 217.44 ▲ 0.15% ASUR 274.63 ▲ 0.09% OMA AIRPORT 103.93 ▼ 0.08% AMX ADR 26.16 ▲ 0.22% FEMSA ADR 130.37 ▲ 0.28% CEMEX ADR 12.70 ▲ 1.64% PETROBRAS ADR 18.52 ▲ 1.81% VALE ADR 14.24 ▲ 0.96% ITAU ADR 8.38 ▲ 0.66% SANTANDER BR 5.41 ▲ 0.65% AMBEV ADR 3.11 ▲ 0.97% CSN 1.01 ▼ 0.05% GERDAU 4.64 ▼ 0.96% LATAM ADR 51.90 ▲ 0.31% BTC 66,437 ▲ 1.85% ETH 1,923 ▲ 1.04% SOL 77.86 ▲ 0.09% XRP 1.16 ▲ 4.19% BNB 572.59 ▲ 0.33% ADA 0.17 ▲ 2.19% DOGE 0.07 ▲ 1.89% AVAX 6.61 ▲ 0.51% LINK 8.62 ▲ 0.40% DOT 0.86 ▲ 3.49% LTC 47.10 ▼ 0.50% BCH 223.67 ▲ 1.71% TRX 0.33 ▲ 0.84% XLM 0.19 ▲ 2.80% HBAR 0.07 ▲ 4.57% NEAR 1.93 ▼ 2.20% ATOM 1.49 ▼ 0.47% AAVE 95.14 ▲ 5.98% SELIC 14.25% EMBRAER 82.92 ▼ 0.44% EMBRAER ADR 65.39 ▼ 0.82% JBS 11.93 ▼ 0.87% JBS BDR 60.39 ▼ 0.66% MBRF3 15.11 ▲ 4.06% MBRFY 2.95 ▲ 1.37% INTER 5.53 ▼ 1.60% EGX 53,990 ▲ 1.63% USD/ZAR16.46▼ 0.39% USD/NGN1,376▼ 0.27% NIKKEI 66,232 ▲ 3.26% CSI300 4,739 ▲ 3.06% HSI 25,132 ▼ 0.04% NIFTY 24,188 ▼ 0.21% KOSPI 6,748 ▲ 3.56% JCI 6,340 ▲ 1.74% USD/JPY163.20▲ 0.43% USD/CNY6.77▼ 0.03% DAX 25,011 ▲ 0.66% CAC 8,363 ▲ 0.28% FTSE 10,586 ▲ 0.58% MIB 52,285 ▲ 0.81% IBEX 19,380 ▲ 0.90% STOXX 643.19 ▲ 0.56% EUR/USD1.14▼ 0.09% GBP/USD1.34▼ 0.48% SPX 7,508 ▲ 0.87% DJI 52,237 ▲ 0.77% NDX 29,128 ▲ 1.83% RUT 2,980 ▲ 1.27% TSX 35,289 ▲ 0.94% VIX 16.99 ▼ 8.90% USD/CAD1.41▲ 0.28% US10Y 4.6280 ▲ 0.65% IBOV 173,107.90 ▼ 0.15% IPSA 10,963.36 ▲ 0.61% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,294,537 ▲ 2.20% COLCAP 2,319.30 ▲ 0.91% BVL PERÚ 56,620.35 — — USD/BRL 5.07 ▼ 0.39% USD/MXN 17.40 ▼ 0.20% USD/CLP 933.88 ▼ 0.07% USD/COP 3,223 ▼ 1.39% USD/PEN 3.39 ▲ 0.09% USD/ARS 1,478 ▼ 0.27% USD/UYU 40.11 ▲ 1.23% USD/PYG 6,045 ▲ 1.76% USD/BOB 10.80 ▲ 2.69% USD/DOP 58.02 ▲ 0.31% USD/CRC 446.12 ▲ 1.15% USD/GTQ 7.62 ▲ 2.33% USD/HNL 26.74 ▲ 1.61% USD/NIO 36.62 ▲ 0.84% USD/VES 735.39 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.79 ▲ 0.73% USD/TTD 6.73 ▲ 1.11% EUR/BRL 5.78 ▼ 1.27% BRENT 91.29 ▲ 2.32% WTI 84.56 ▲ 1.60% IRON ORE 161.91 — — COPPER 6.53 ▲ 3.60% GOLD 4,088 ▲ 1.93% SILVER 59.06 ▲ 3.98% SOY 1,222 ▼ 0.31% CORN 475.25 ▲ 5.73% WHEAT 678.50 ▲ 0.67% COFFEE 322.80 ▼ 3.47% SUGAR 14.90 ▲ 0.54% ORANGE JUICE 142.30 ▼ 3.46% COTTON 80.03 ▲ 3.44% COCOA 5,606 ▲ 1.56% BEEF 223.05 ▼ 1.53% CATTLE 344.88 ▼ 2.02% LITHIUM 69.25 ▲ 3.48% PETR4 41.66 ▲ 1.24% VALE3 72.28 ▲ 0.49% ITUB4 42.52 ▲ 0.52% BBDC4 18.59 ▲ 0.98% ABEV3 15.84 ▲ 0.32% BBAS3 20.77 ▲ 2.97% B3SA3 15.11 ▼ 0.98% WEGE3 42.68 ▼ 1.04% PRIO3 58.42 ▲ 1.27% SUZB3 41.70 ▼ 0.45% RENT3 36.59 ▼ 2.40% AZZA3 17.50 ▼ 3.69% CSAN3 3.80 ▼ 0.52% RAIZ4 0.28 ▲ 3.70% PCAR3 2.71 ▲ 4.23% GMAT3 3.82 ▼ 0.78% PSSA3 53.31 ▼ 1.64% CVCB3 1.14 ▲ 5.56% POSI3 3.72 ▲ 0.54% SLCE3 13.65 ▲ 0.59% NATU3 8.71 ▲ 0.93% BRKM5 5.76 ▼ 3.03% RANI3 7.90 ▼ 1.13% CSNA3 5.05 ▼ 0.39% CMIN3 5.56 ▲ 3.15% USIM5 8.45 ▲ 3.55% GGBR4 23.46 ▼ 0.68% ENEV3 25.42 ▼ 0.90% CPFE3 46.65 ▲ 0.71% CMIG4 11.04 ▲ 0.18% EQTL3 38.60 ▼ 1.76% LREN3 13.27 ▼ 0.30% VIVT3 35.74 ▲ 0.20% RAIL3 13.24 ▼ 2.43% KLABIN 17.57 ▲ 0.51% RAIA DROGASIL 18.21 ▼ 2.57% RDOR3 33.83 ▼ 4.57% HAPV3 11.27 ▼ 2.42% FLRY3 16.44 ▼ 0.72% SMTO3 15.49 ▲ 0.52% UGPA3 31.79 ▲ 0.28% VBBR3 33.86 ▼ 0.73% BBSE3 41.46 ▲ 1.00% BPAC11 55.75 ▼ 0.16% CURY3 29.88 ▼ 1.03% AERI3 2.05 ▼ 0.97% VIVARA 21.48 ▼ 2.19% COMPASS 24.39 ▼ 0.85% VAMOS 3.06 ▼ 0.97% SANB11 27.32 ▲ 1.15% ASAI3 8.21 ▲ 0.86% SBSP3 28.75 ▼ 0.79% WALMEX 49.20 ▼ 0.36% GMEXICO 208.04 ▲ 3.59% FEMSA 226.42 ▼ 0.24% CEMEX 22.05 ▲ 0.78% GFNORTE 185.97 ▲ 3.32% BIMBO 59.15 ▼ 0.59% TELEVISA 9.76 ▲ 0.51% AMX 22.75 ▲ 0.04% GAP 377.63 ▼ 0.15% ASUR 274.63 ▲ 0.09% OMA 225.34 ▼ 0.49% KOF 180.53 ▼ 0.15% GRUMA 282.95 ▼ 1.62% KIMBER 38.17 ▼ 0.57% SQM-B 64,558 ▲ 2.28% COPEC 6,374 ▲ 2.81% BSANTANDER 79.87 ▲ 4.97% FALABELLA 5,906 ▲ 0.53% ENELAM 84.54 ▲ 0.51% CENCOSUD 2,020 ▲ 1.26% CMPC 1,085 ▲ 1.81% BANCO CHILE 190.53 ▲ 2.17% LATAM AIR 24.28 ▼ 0.53% YPF 80,300 ▲ 1.39% GGAL 7,935 ▲ 1.15% PAMPA 5,470 ▲ 3.80% TXAR 676.00 ▲ 0.82% ALUAR 968.50 ▲ 0.94% TGS 9,755 ▲ 2.68% CEPU 2,340 ▲ 2.23% MIRGOR 16,825 ▼ 1.75% COME 43.00 ▲ 0.12% LOMA NEGRA 3,605 ▲ 0.91% BYMA 293.50 ▼ 0.09% TELECOM ARG 4,215 ▲ 1.69% ECOPETROL 16.49 ▲ 2.84% BANCOLOMBIA 83.31 ▲ 3.07% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 391.61 ▲ 1.23% SOUTHERN COPPER 185.72 ▲ 6.08% BUENAVENTURA 31.31 ▲ 4.16% MERCADOLIBRE 1,817 ▼ 0.83% NUBANK 14.25 ▲ 1.82% XP 16.78 ▼ 0.15% PAGSEGURO 9.57 ▲ 2.96% STONE 11.29 ▲ 1.53% GLOBANT 32.06 ▼ 0.71% TECNOGLASS 45.34 ▼ 1.67% GAP AIRPORT 217.44 ▲ 0.15% ASUR 274.63 ▲ 0.09% OMA AIRPORT 103.93 ▼ 0.08% AMX ADR 26.16 ▲ 0.22% FEMSA ADR 130.37 ▲ 0.28% CEMEX ADR 12.70 ▲ 1.64% PETROBRAS ADR 18.52 ▲ 1.81% VALE ADR 14.24 ▲ 0.96% ITAU ADR 8.38 ▲ 0.66% SANTANDER BR 5.41 ▲ 0.65% AMBEV ADR 3.11 ▲ 0.97% CSN 1.01 ▼ 0.05% GERDAU 4.64 ▼ 0.96% LATAM ADR 51.90 ▲ 0.31% BTC 66,437 ▲ 1.85% ETH 1,923 ▲ 1.04% SOL 77.86 ▲ 0.09% XRP 1.16 ▲ 4.19% BNB 572.59 ▲ 0.33% ADA 0.17 ▲ 2.19% DOGE 0.07 ▲ 1.89% AVAX 6.61 ▲ 0.51% LINK 8.62 ▲ 0.40% DOT 0.86 ▲ 3.49% LTC 47.10 ▼ 0.50% BCH 223.67 ▲ 1.71% TRX 0.33 ▲ 0.84% XLM 0.19 ▲ 2.80% HBAR 0.07 ▲ 4.57% NEAR 1.93 ▼ 2.20% ATOM 1.49 ▼ 0.47% AAVE 95.14 ▲ 5.98% SELIC 14.25% EMBRAER 82.92 ▼ 0.44% EMBRAER ADR 65.39 ▼ 0.82% JBS 11.93 ▼ 0.87% JBS BDR 60.39 ▼ 0.66% MBRF3 15.11 ▲ 4.06% MBRFY 2.95 ▲ 1.37% INTER 5.53 ▼ 1.60% EGX 53,990 ▲ 1.63% USD/ZAR 16.45 ▼ 0.25% USD/NGN 1,376 ▲ 0.02% NIKKEI 66,232 ▲ 3.26% CSI300 4,739 ▲ 3.06% HSI 25,132 ▼ 0.04% NIFTY 24,188 ▼ 0.21% KOSPI 6,748 ▲ 3.56% JCI 6,340 ▲ 1.74% USD/JPY 163.17 ▲ 0.44% USD/CNY 6.7651 ▲ 0.11% DAX 25,011 ▲ 0.66% CAC 8,363 ▲ 0.28% FTSE 10,586 ▲ 0.58% MIB 52,285 ▲ 0.81% IBEX 19,380 ▲ 0.90% STOXX 643.19 ▲ 0.56% EUR/USD 1.1406 ▼ 0.07% GBP/USD 1.3384 ▼ 0.31% SPX 7,508 ▲ 0.87% DJI 52,237 ▲ 0.77% NDX 29,128 ▲ 1.83% RUT 2,980 ▲ 1.27% TSX 35,289 ▲ 0.94% VIX 16.99 ▼ 8.90% USD/CAD 1.4106 ▲ 0.20% US10Y 4.6280 ▲ 0.65%
since 2009
Tuesday, July 21, 2026

Earnings Brazil

Petrobras Output Up 17% on Pre-Salt Gains; Exports Jump 36% in Q3 2025

Brazil's Petrobras bas in Rio de Janeiro has quietly become one of the world’s most dynamic sources of new oil supply.

By Richard Mann · October 25, 2025 · 2 min read

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Petrobras-2-1

Brazil’s Petrobras bas in Rio de Janeiro has quietly become one of the world’s most dynamic sources of new oil supply.

In the third quarter, the state-controlled producer lifted output in Brazil to 3.14 million barrels of oil equivalent per day, up 17.3% year on year.

Oil and NGL averaged 2.52 million barrels per day; natural gas reached 594,000 boe/d. Pre-salt fields delivered roughly 2.1 million boe/d—the engine of the surge.

What changed is execution offshore. A run of large floating platforms moved from start-up to steady state:

  • Almirante Tamandaré in Búzios hit its plateau;
  • Marechal Duque de Caxias in Mero increased capacity; and ramp-ups at
  • Maria Quitéria (Jubarte), Anita Garibaldi and Anna Nery (Marlim/Voador), and Alexandre de Gusmão

added new volumes. Another unit, P-78, has arrived at Búzios to extend the trend into coming quarters.

Petrobras Output Up 17% on Pre-Salt Gains; Exports Jump 36% in Q3 2025
Petrobras Output Up 17% on Pre-Salt Gains; Exports Jump 36% in Q3 2025
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Petrobras Output Up 17% on Pre-Salt Gains; Exports Jump 36% in Q3 2025

Exports jumped with production. Petrobras shipped 814,000 barrels of crude per day in the quarter, up 36.1% from a year earlier, with a heavier tilt toward Asia—especially China—where refiners value Brazil’s low-sulfur pre-salt grades.

That brings in hard currency and deepens Brazil’s role in balancing global flows at a time when many producers are struggling to grow.

At home, the refining system ran near full tilt at 94% utilization. Product sales rose 1.9% year on year to 1.804 million barrels per day, led by diesel.

Low-sulfur S-10 diesel reached record shares, a practical win for a country where trucks move harvests and goods across long distances.

Petrobras also advanced projects to add more S-10 diesel, jet fuel, and higher-quality base oils, while testing sustainable aviation fuel via co-processing.

The story behind the story is scale and repeatability. After a decade of heavy investment, Petrobras is now turning a sophisticated deepwater factory—few wells, very productive reservoirs, big FPSOs, and growing gas-processing capacity—into dependable barrels and cash flow.

For readers outside Brazil, the takeaway is simple: this pre-salt machine is reshaping where the next marginal barrel comes from, supporting Brazil’s fuel security at home and strengthening its hand in energy trade abroad.

Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
P
◆ Live Company Intelligence
Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$115.81B
Market cap
Analyst target $22.58

Wall Street view

4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $22.58  ·  +42% vs 200-day

Valuation & profitability

Market cap$115.81B
Revenue (TTM)$498.09B
P / E ratio5.7
Profit margin21.6%
Return on equity25.6%

Price & risk

52-wk low
$10.97
52-wk high
$22.07
Beta (volatility)-0.14
200-day average$15.93

Revenue trend · 6y

20202025
Latest $88.10B

Ownership

Institutions26.9%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds

Dividend

Yield17.1%
Payout ratio29.1%
Fwd. annual$1.76
What Petroleo Brasileiro Petrobras does. Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces…
Data: EODHD fundamentals (PBR.US) · figures in USD · as of 21 Jul 2026More company intelligence →

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