Petrobras breathes easy
Brazilian company posts best financial results since bribery scandal
Petrobras has finally announced a positive annual result, five years after the Lava Jato corruption probe left the Brazilian state-controlled company with spiralling debts. The firm closed the year with a $25.8bn net profit, the highest figure in seven years, and a total of R$20.2bn ($5.27bn) in asset sales. Improved crude and fuel prices largely contributed towards the strong year. Oil jumped 50pc year-on-year, in reals, and fuel 32pc y-on-y. Even a slight dip in production failed to impact the company's finances-production fell to 2.63mnbl/d oe from a record 2.65mn bl/d oe the year before. Output is set to rise again this year and further boost the firm's bottom line. Four new production s
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
