Petrobras confirmed the rule that the attacks by the United States and Israel on Iran, which began on February 28, made oil companies happy around the world, while negatively impacting the accounts of countries and the population in general. The state-owned company had a net profit of R$52.4 billion in the 2nd quarter, 96.8% higher than that recorded from April to June last year. And to the happiness of shareholders, the company announced that it will pay dividends of R$17.4 billion for the period's results.
Petrobras profits R$52.4 billion and distributes almost R$18 billion to shareholders
Petrobras confirmed the rule that the attacks by the United States and Israel on Iran, which began on February 28, made oil companies happy around the world, while negatively impacting the accounts of countries and the...
Petrobras' results in the quarter were driven by the surge in oil prices, caused by the conflict in the Middle East, and also by the record production of crude oil and fossil gas, highlights Folha. The average price of Brent oil, an international reference, rose 54.1% compared to the same quarter of the previous year, to US$ 104 per barrel. The state-owned company's production increased by 14% compared to the period from April to June 2025. On average, Petrobras produced 3.34 million barrels of oil equivalent (BOE, which includes crude oil and gas) daily.
Petrobras' profit exceeded market analysts' projections. At the end of July, experts projected a net profit for the oil company ranging from US$8 billion to US$9.5 billion (R$41.1 billion to R$48.8 billion). In dollars, the company's result for the period was US$10.4 billion – even greater than that of the British giant Shell, which recorded a profit of US$9.8 billion in the same period.
The war in Iran has closed the Strait of Hormuz and choked off the supply of fossil fuels around the world. This has caused fossil fuel prices to skyrocket around the world. Governments in several countries began to subsidize energy prices to avoid inflationary shocks, while others acted to reduce the consumption of petroleum derivatives and even rationed supply, due to a lack of product.
Meanwhile, the oil companies won, a lot. A Guardian survey shows that eight of the largest oil and gas companies in the world accumulated profits of US$93 billion (R$478.2 billion) from April to June. It was almost double that recorded in the 2nd quarter of 2025, when Aramco, BP, Shell, Equinor, TotalEnergies, Eni, Chevron and ExxonMobil earned just under US$50 billion (R$257 billion).
The case of Saudi Aramco is exemplary in showing how these companies do not lose even in unfavorable scenarios. Even with part of its infrastructure destroyed by the conflict and the interruptions to its export routes caused by the closure of the Strait of Hormuz, Aramco had an adjusted net profit of US$33.4 billion (R$171.7 billion) from April to June. The value is 33% higher than the US$25.2 billion (R$129.6 billion) recorded in the same quarter last year.
Source: ClimaInfo
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