Petrobras Accelerates P-79 Ramp-Up with Record 12-Day Anchoring and Búzios Hits 1 Million Barrels a Day
Petrobras completed P-79 anchoring in a record 12 days, accelerated ramp-ups at P-78/P-79, and saw Búzios fields exceed 1 million barrels per day in October 2025. Output rose 11% in 2025, adjusted EBITDA was $42.5 billion, net income $19.6 billion and gross debt stood at $69.8 billion as the board approved BRL 1.81 billion in dividends.
1. Platform Accelerations and Production Milestones
Petrobras expects P-80 startup in August, P-82 in September and P-83 in February 2027, while fast-tracking ramp-ups at P-78 and P-79. The P-79 platform was anchored in a record 12 days, and Búzios fields surpassed 1 million barrels per day in October 2025.
2. 2025 Financial Results
The company delivered an 11% increase in oil and gas output for 2025, achieving adjusted EBITDA of $42.5 billion, net income of $19.6 billion and operating cash flow of $36 billion despite a 14% drop in average Brent prices.
3. Capital Allocation and Debt
Petrobras invested $17 billion (84% of total) in exploration and production, added 1.7 billion barrels of reserves for a 175% replacement rate, and ended 2025 with $69.8 billion in gross debt, 62% of which is leasing-related. The board approved BRL 1.81 billion in dividends.
4. Refining Performance and Low-Carbon Initiatives
Refinery utilization reached over 91%, with 68–70% of output in higher-value fuels, supporting domestic sales of 1.747 million barrels per day and exports near 1 million barrels per day in Q4. Petrobras also began sustainable aviation fuel production and expanded gas processing capacity to 21 million cubic meters per day.