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Overview
- Exploration and production EBITDA rose by US$300 million despite Brent falling to US$69.07 from US$80.18 a year earlier, supported by 17% output growth and peak performance from the FPSO Almirante Tamandaré.
- Investments reached US$14 billion in the first nine months of 2025, up 28.6%, with execution running ahead of the US$111 billion plan for 2025–2029.
- The board approved R$12.16 billion in dividends for the quarter, and the company reiterated a payout policy designed to function across oil-price scenarios.
- Gross debt stood at US$70.7 billion at quarter-end, with most obligations tied to leases of vessels and platforms and leverage within the business plan.
- Executives outlined efforts to lift platform capacity, seeking Ibama authorization to add 115,000 barrels per day across five FPSOs, and noted the first deep well in the Foz do Amazonas as among the company’s most complex.