Petroleo Brasileiro SA (Petrobras) reported third-quarter net income of $7.74 billion, a notable increase from a year earlier. Revenue was $32.96 billion. Adjusted earnings per share were $1.44.
The company said its strong results were driven by record operational performance. Petrobras reached its highest-ever oil and gas production, averaging 3.51 million barrels of oil equivalent per day, up 11.7% year over year. Its refineries operated at 99% utilization, near maximum capacity.