Petrobras ended the first quarter of 2026 as the most profitable oil company in the world among companies in the sector with a market value above US$50 billion. During the period, the state-owned company recorded a net profit of US$6.25 billionsurpassing international companies such as Shell (US$5.69 billion) and Exxon Mobil (US$4.18 billion). The survey was prepared by Elos Ayta.
Thus, Petrobras took the lead in a ranking that brings together the largest oil and gas companies listed in Brazil and abroad.
Between ace 16 companies that appear in the study8 are from the United States, 4 are from Europe and 3 are from Canada. Petrobras is the only Brazilian company.
In reais, however, the state-owned company’s result fell from R$35.2 billion to R$32.6 billion in the annual comparison. The leadership in dollars was favored by the appreciation of the real against the US currency. Not surprisingly, the average Ptax dollar fell from R$5.85 in the first quarter of 2025 to R$5.26 in the first three months of 2026.
Thus, this exchange rate variation increased the value of Petrobras’ profit when converted into dollars. It is worth mentioning that the dollar is the currency used as a reference by international investors and the main unit of comparison between global companies.
Furthermore, the survey highlights the high productivity of pre-salt fields, recognized among the most competitive offshore assets in the global industry, and the impact of the conflict in the Middle East, which contributed to increasing the volatility of oil prices at the end of the quarter.
In 2025, Exxon Mobil (US$28.84 billion) led the annual profit ranking, while Petrobras occupied second place (US$20.01 billion).
According to the study, in the first quarter of that year, Exxon also recorded the highest profit in the group, with US$7.71 billion. The result of the Brazilian state-owned company had been US$6.13 billion.
Dividend distribution
Petrobras published a statement to the market this Thursday (14) informing that it will pay the first installment of remuneration to shareholders for the fourth quarter of last year on May 20th for Common and Preferred Shares. The value will be R$0.32960457 per share.
