Petróleo Brasileiro S.A. (Petrobras) shares are higher today after the company’s third‑quarter print, a fresh dividend announcement and upbeat commentary on its 2025 investment pace. By 19:25 UTC, U.S.-listed PBR ADRs traded around $12.71 (≈+4.7% on the day) and PBR.A near $11.92 (≈+3.0%). Brazilian preferreds PETR4 were also firmer in São Paulo around midday, at R$31.90 (≈+2.7%). [1]
Key takeaways
- Dividend declared: Board approved R$12.16bn (R$0.94320755/SH) in interim dividends for FY25, payable in two installments on Feb 20 and Mar 20, 2026 (ADRs one week later). Record dates: Dec 22 (B3) / Dec 26 (NYSE). [2]
- Solid Q3 headline: Q3 net profit came in at R$32.7bn (~US$6.05bn) with revenue of R$127.9bn; the board paired the print with a ~US$2.25bn dividend disclosure overnight. [3]
- Faster 2025 investments: Management says capex execution is running ahead of plan; 9M25 capex totaled US$14bn after US$5.5bn in Q3, with 2025 capex guided at ~US$18.5bn (±10%). About 90% of 2026 projects are already contracted. [4]
- Operations still ramping: Output from the flagship Búzios pre‑salt field continues to scale; the FPSO Almirante Tamandaré has already peaked at ~270 kbpd and helped push Petrobras exports to records. [5]
- Macro context: Crude prices edged up but remain soft—Brent ~US$63.7/bbl and WTI ~US$59.7/bbl—leaving the sector focused on supply-glut risk and cost discipline. [6]
What moved Petrobras stock today
1) Dividend details investors needed
Petrobras’ board approved R$12.16bn in interim dividends for 2025, equal to R$0.94320755 per share for both common and preferred stock. Payments will be split into two tranches (Feb 20 and Mar 20, 2026 for B3; ADRs a week later). The company emphasized the payout aligns with its policy to distribute 45% of free cash flow when gross debt is at or below the plan’s ceiling; the form (dividends and/or JCP) will be defined by Dec 11 and amounts updated by Selic until payment dates. [7]
2) Q3 scorecard and guidance color
In last night’s release, Petrobras reported R$32.7bn in net income (up 2.7% in USD terms) on R$127.9bn in revenue. Media noted the firm unveiled dividends of about US$2.25bn alongside the numbers. The revenue print trailed the LSEG consensus, but bottom line held up thanks to record exports and higher production. [8]
Some outlets also flagged that the ADR beat profit expectations, with revenue topping estimates—another sentiment boost for today’s session. [9]
3) “Accelerating” capex and what that means for 2026–2030
On today’s calls, CFO Fernando Melgarejo said Petrobras is rolling out investments faster than expected and now sees 2025 capex landing between the midpoint and top of guidance (around US$18.5bn, ±10%). Importantly, ~90% of 2026 projects are already contracted, implying limited room to tweak next year’s spend. Management reiterated cost discipline given softer Brent, and flagged the 2026–2030 strategic plan reveal for Nov. 27. [10]
Local financial press added that non‑contracted projects could be postponed if Brent remains under pressure, a reminder that macro still shapes execution speed. [11]
4) Operations: Búzios keeps surprising to the upside
Reporting today highlighted how the Búzios megafield is underpinning volumes and cash generation. Petrobras’ Almirante Tamandaré FPSO—nominally a 225 kbpd unit—peaked near 270 kbpd recently, helping lift exports and offset weaker oil prices. Another unit is already on site preparing to start. [12]
5) Management messaging and domestic noise
In commentary amplified by Brazilian media, CEO Magda Chambriard said the Q3 results reinforce her mantra that those “betting against Petrobras will lose”, noting investments are up ~28.6% y/y in 9M25 and E&P EBITDA grew despite a lower Brent backdrop—thanks to ~17% production growth and gains in operational efficiency. [13]
Separately, the oil workers’ federation FUP criticized the new dividend, contrasting shareholder payouts with labor demands—an undercurrent investors continue to monitor in Brazil’s state‑linked names. [14]
By the numbers (Q3 and 9M updates investors asked about)
- Net income:R$32.7bn; Revenue:R$127.9bn. [15]
- Exports: ~814 kbpd of crude in Q3, a record; total exports (oil, gas and derivatives) up ~29% y/y. [16]
- Capex:US$5.5bn in Q3; US$14bn in 9M25; ~US$18.5bn targeted for 2025. [17]
- Dividend just approved:R$12.16bn (R$0.94320755/SH), record dates Dec 22 (B3)/Dec 26 (ADRs); pay Feb 20 & Mar 20, 2026 (ADRs a week later). [18]
Today’s market context: oil still soft
Crude prices stabilized but remain under pressure amid oversupply concerns, with Brent near US$63.66 and WTI around US$59.72 this morning, setting up a second weekly loss. That macro tone keeps a spotlight on Petrobras’ cash‑flow resilience and capex prioritization. [19]
What to watch next
- Strategic Plan (2026–2030): Petrobras said it will unveil the new multi‑year plan on Nov. 27, a key catalyst for capex phasing, portfolio mix and shareholder returns. [20]
- Búzios ramp & new FPSOs: Continued performance from Almirante Tamandaré and the start‑up of the next unit at Búzios remain operational swing factors for volumes and exports. [21]
- Dividend logistics: Ex‑rights on Dec. 23 (B3) and payment scheduling into Feb/Mar 2026; watch Petrobras’ update by Dec. 11 on the mix (dividends vs. JCP). [22]
Tickers & SEO terms
Petróleo Brasileiro S.A., Petrobras, PBR, PBR.A, PETR3, PETR4, Petrobras dividend, Petrobras Q3 2025 results, Búzios field, Almirante Tamandaré FPSO, Brazilian oil stocks.
Disclosure: This article summarizes all material Petrobras stock news published today (7 November 2025) and verified sources are linked inline. It is news and analysis, not investment advice. Always do your own research.
References
1. www.infomoney.com.br, 2. api.mziq.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.rigzone.com, 6. www.reuters.com, 7. api.mziq.com, 8. www.reuters.com, 9. www.investing.com, 10. www.reuters.com, 11. www.infomoney.com.br, 12. www.rigzone.com, 13. einvestidor.estadao.com.br, 14. bpmoney.com.br, 15. www.reuters.com, 16. www.reuters.com, 17. www.reuters.com, 18. api.mziq.com, 19. www.reuters.com, 20. www.reuters.com, 21. www.rigzone.com, 22. api.mziq.com
