U.S. COMPANY FILING
PETROBRAS - PETROLEO BRASILEIRO SA — Form 20-F filed 2026-04-09
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Petrobras reported 2025 net income of $19,720 million, up 160.8% from 2024, driven by exchange rate gains and lower operating expenses. Operating cash flow was $36,047 million, free cash flow $16,528 million, and adjusted EBITDA $42,523 million. The company proposed $7,507 million in dividends and invested $20,319 million in capex, up 22%. Net debt/adjusted EBITDA rose to 1.42.
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