Petrobras Reports Net Income Up 47.6% in Q3

Brazilian oil company Petrobras reported Thursday a net profit of $8.76 billion in the third quarter of 2022.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

*renews at 199$/year, cancel anytime before renewal.

Brazilian oil group Petrobras on Thursday reported a net profit of $8.76 billion in the third quarter of 2022, up 47.6% year-on-year thanks to soaring crude prices.

From July to September, the group’s turnover increased by 39.4% year-on-year.

These results “are directly related to the effectiveness of management, our strategic decisions and our exposure and alignment with Brent prices,” Petrobras CFO Rodrigo Araujo Alves said in a statement.

The board of directors approved a dividend of R$3.35 per share on Thursday, for a total of R$43.7 billion ($8.5 billion).

Petrobras was under pressure from far-right President Jair Bolsonaro, who was defeated in the second round of the presidential election last Sunday by his left-wing rival Luiz Inacio Lula da Silva, and who had gone so far as to describe the fuel price increases decided by the oil group as “rape”.

The Brazilian federal government currently owns 50.26% of Petrobras. Jair Bolsonaro was in favor of privatizing the group, while Lula said he would keep it in his fold.

Lula’s Workers’ Party (PT) has criticized the group’s dividend payments. “This policy affects the company’s investment policy and only enriches shareholders,” PT President Gleisi Hoffman tweeted.

In total, Petrobras has paid its shareholders 180 billion reais ($35.3 billion) since the beginning of 2022, according to the daily Valor.

Eneco’s Supervisory Board has appointed Martijn Hagens as the next Chief Executive Officer. He will succeed interim CEO Kees Jan Rameau, effective from 1 March 2026.
With $28 billion in planned investments, hyperscaler expansion in Japan reshapes grid planning amid rising tensions between digital growth and infrastructure capacity.
The suspension of the Revolution Wind farm triggers a sharp decline in Ørsted’s stock, now trading at around 26 USD, increasing the financial stakes for the group amid a capital increase.
Hydro-Québec reports net income of C$2.3 billion in the first half of 2025, up more than 20%, driven by a harsh winter and an effective arbitrage strategy on external markets.
French group Air Liquide strengthens its presence in Asia with the acquisition of South Korean DIG Airgas, a key player in industrial gases, in a strategic €2.85 billion deal.
The Ministry of Economy has asked EDF to reconsider the majority sale agreement of its technology subsidiary Exaion to the American group Mara, amid concerns related to technological sovereignty.
IBM and NASA unveil an open-source model trained on high-resolution solar data to improve forecasting of solar phenomena that disrupt terrestrial and space-based technological infrastructures.
The Louisiana regulatory commission authorizes Entergy to launch major energy projects tied to Meta’s upcoming data center, with anticipated impacts across the regional power grid.
Westbridge Renewable Energy will implement a share consolidation on August 22, reducing the number of outstanding shares by four to optimize its financial market strategy.
T1 Energy secures a wafer supply contract, signs 437 MW in sales, and advances G2_Austin industrial deployment while maintaining EBITDA guidance despite second-quarter losses.
Masdar has allocated the entirety of its 2023–2024 green bond issuances to solar, wind, and storage energy projects, while expanding its financial framework to include green hydrogen and batteries.
Energiekontor launches a €15 million corporate bond at 5.5% over eight years, intended to finance wind and solar projects in Germany, the United Kingdom, France, and Portugal.
The 2025 EY study on 40 groups shows capex driven by mega-deals, oil reserves at 34.7 billion bbl, gas at 182 Tcf, and pre-tax profits declining amid moderate prices.
Australian fuel distributor Ampol reports a 23% drop in net profit, impacted by weak refining margins and operational disruptions, while surpassing market forecasts.
Puerto Rico customers experienced an average of 73 hours of power outages in 2024, a figure strongly influenced by hurricanes, according to the U.S. Energy Information Administration.
CITGO returns to profitability in Q2 2025, supported by maximum utilization of its refining assets and adjusted capital expenditure management.
MARA strengthens its presence in digital infrastructure by acquiring a majority stake in Exaion, a French provider of secure high-performance cloud services backed by EDF Pulse Ventures.
ACEN strengthens its international strategy with over 2,100 MWdc of attributable renewable capacity in India, marking a major step in its expansion beyond the Philippines.
German group RWE maintains its annual targets after achieving half its earnings-per-share forecast, despite declining revenues in offshore wind and trading.
A Dragos report reveals the scale of cyber vulnerabilities in global energy infrastructures. Potential losses reach historic highs.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.