Brazil’s state-controlled oil producer Petrobras reported weaker-than-expected results and cut its dividend after lower oil prices offset stronger production figures.
Petrobras posted a 5% rise in oil and gas production in Q2 2025 compared to Q1, a performance the company attributes to the ramp-up of several FPSOs.
Seatrium Limited has announced the impending delivery of the PETROBRAS 78 (P-78) – the first of a series of turnkey Floating Production Storage and Offloading vessels (FPSO), to Brazil’s Petrobras.
Strohm has successfully completed the first field trials with Petrobras for its thermoplastic composite pipe (TCP) pipe design offshore Brazil, at water depths of approximately 1,500 m.
Petrobras has awarded Fugro four significant multi-year contracts for the inspection and monitoring of critical subsea infrastructure in Brazil.
Earlier this year, a senior company executive told Reuters Petrobras was looking to buy interest in African oil fields to boost its reserves and was in talks with potential sellers, including Exxon, Shell, and TotalEnergies. Petrobras’s proven oil and gas reserves increased by 500 million barrels last year, from 10.9 billion barrels to 11.4 billion barrels.
TechnipFMC’s eSolutions platform supports field simplification by using standard system components with a track record of reliability. The company’s configure-to-order approach is said to enable standardization across subsea developments, with key parts of the electrical safety system including the 800-series controls and electric actuators.
Petrobras, Exxon Mobil Corp. and Chevron Corp. have won exploration rights in Brazil’s Equatorial Margin, betting that the nation’s environmental regulator will finally open the promising offshore oil region for drilling after years of delay.
Geospace Technologies Corporation have secured a Permanent Reservoir Monitoring contract award for Mero Fields 3 and 4 from Petrobras, operator of the Mero field Consortium. The contract encompasses the supply and installation of nearly 500km of the OptoSeis® Permanent Reservoir Monitoring (PRM) system covering 140 sq km of seabed area of Mero, located deep offshore in the Santos Basin, 180 kilometers off the coast of Rio de Janeiro, Brazil.
Earlier this month, Petrobras reported a net profit of BRL 35 billion ($6 billion) for the first quarter. The company achieved adjusted earnings before interest, taxes, depreciation, and amortization of BRL 61 billion ($10.5 billion) and an operating cash flow of BRL 49.3 billion ($8.5 billion).