Petroleo Brasileiro SA Petrobras ADR

PBR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Petrobras Earnings: Growing Production Can’t Shield Payouts From Lower Oil Prices

Allen Good

Aug 11, 2025

Petrobras' reported second-quarter adjusted results fell only slightly from the prior quarter, as a 10% drop in Brent prices was mitigated by a 5% rise in production to 2.9 mmboe/d. However, a 7% capex increase and one-off events weighed on free cash flow, leading to a 26% dividend reduction.

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Petroleo Brasileiro SA Petrobras ADR

Petrobras Earnings: Growing Production Can’t Shield Payouts From Lower Oil Prices

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