Petrobras Reports Q4 Sales of Oil, Gas, and Derivatives at 3.4 Million Barrels Per Day
Company Overview: Petrobras reported its fourth-quarter sales figures for oil, gas, and derivatives.
Sales Volume: The company achieved sales of 3.4 million barrels per day (bpd) during this period.
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- Pricing Strategy: Petrobras CEO Magda Chambriard stated that despite the surge in global oil markets due to war, the company will hold off on raising retail fuel prices to ensure market stability before making any decisions.
- Market Price Discrepancy: According to the Abicom fuel importer association, Petrobras currently sells diesel and gasoline at prices 85% and 45% lower than international levels, respectively, indicating a widening gap since the onset of the Middle East conflict.
- Lack of Political Pressure: Chambriard also noted that the company has not felt any political pressure to restrain pump prices, providing greater flexibility in its pricing strategy.
- Future Outlook: The company will closely monitor fluctuations in crude oil prices to determine whether to pass costs onto consumers, thereby maintaining competitiveness in an uncertain market environment.
- Adjusted EBITDA Decline: Petrobras reported an adjusted EBITDA of $10.9 billion for Q4, reflecting an 8.5% decrease from the previous quarter, indicating challenges in cost management and market volatility that could impact future investment decisions.
- Significant Revenue Growth: The company achieved revenue of $23.61 billion in Q4, a 13.4% year-over-year increase that exceeded market expectations by $790 million, demonstrating strong market performance amid a global energy demand recovery.
- Net Income Performance: Excluding one-off events, Petrobras reported a net income of $4.75 billion for Q4, showcasing the company's efforts to maintain stable profitability despite external market uncertainties.
- Record Oil Exports: Petrobras set a record for oil exports in Q4, driven by increased domestic production, which not only strengthens the company's market position but also potentially supports future shareholder returns.
- Oil Price Surge: Brent crude prices soared approximately 8% to about $78.70 per barrel on Monday, driven by heightened concerns over potential supply disruptions due to U.S.-Iran hostilities.
- Market Reaction: Following the assassination of Iran's Supreme Leader Khamenei in joint U.S.-Israeli strikes, traders rushed to gain energy exposure, resulting in significant pre-market gains for related ETFs, highlighting the market's sensitivity to energy price fluctuations.
- Strait of Hormuz Risks: The potential closure of the Strait of Hormuz, responsible for over 27% of global crude oil shipments, has raised alarm among retail traders, further exacerbating market uncertainty amid escalating tensions.
- Military Action Outlook: President Trump indicated that the current military operations against Iran could last four to five weeks, intensifying market expectations for future oil price volatility and prompting investors to reassess their energy asset allocations.

Trump's Stance on Iran: President Trump expressed dissatisfaction with Iran's negotiation approach, indicating that they are not willing to compromise significantly.
Concerns Over Enrichment: Trump emphasized that there should be no enrichment of uranium by Iran, reiterating a hardline stance on nuclear negotiations.
Frustration with Current Negotiations: He conveyed that the current state of negotiations with Iran is unsatisfactory and does not meet U.S. expectations.
Overall Sentiment: Trump's comments reflect a broader frustration with Iran's actions and the ongoing diplomatic efforts surrounding their nuclear program.
- Significant Stock Decline: Braskem (BAK) shares fell by 13.2% in Thursday's trading, reflecting market uncertainty regarding its future transactions, particularly after Petrobras (PBR) opted not to exercise its first-refusal rights, which may undermine investor confidence.
- Transaction Context: This decision pertains to the potential transfer of Braskem shares held by Novonor subsidiary NSP Investimentos S.A. to Shine I FIDC, indicating market concerns over changes in Braskem's equity structure that could impact its financing capabilities and market positioning.
- Future Disclosure: Both Braskem and Petrobras stated that additional material facts will be disclosed once final terms of the potential transaction are notified, which may influence investor expectations regarding the company's future developments, especially amid pre-transaction market volatility.
- Impact of Rating Changes: Although market sentiment towards Braskem has become more cautious, analysts' upgrades for 2026 could yield positive long-term effects for the company, particularly as market sentiment stabilizes.









