Petrobras (PBR) said Tuesday its Q1 total crude oil, natural gas liquids, and natural gas production reached 2.77 million barrels of oil equivalent per day, down 0.2% from a year ago and up 5.4% from the previous quarter.
Crude oil and NGL production in Brazil averaged 2.21 million barrels per day, down 1% year-over-year but up 5.9% from Q4 of 2024. Abroad production was unchanged compared with Q4 2024 but was down 6.1% year over year.
Commercial production totaled 2.42 million boed, 0.5% down year-over-year but up 5.6% from Q4. Operated production rose 4.7% quarter-over-quarter and 3.2% from the same period last year, reaching nearly 4 million boed.
Petrobras is scheduled to report Q1 earnings on May 12.
Shares of the company were down 1% in recent trading.
Price: 11.40, Change: -0.13, Percent Change: -1.09
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