Petrobras reported a 97% year-over-year surge in second-quarter net income to R$52.4 billion (US$10.4 billion). Record operational performance drove these financial results. Brazil oil production reached an all-time high of 2.7 million barrels per day. This output represents a 15% increase from the previous year.
The company achieved a record 101% refinery utilization rate. Adjusted EBITDA rose to R$93.8 billion. Higher production volumes and stronger Brent crude prices helped the company beat analyst expectations for revenue and earnings.
The board approved R$17.4 billion in dividends. Company shares fell slightly as investors weighed future capital spending and policy risks.