Brazil's state-owned oil company, Petrobras, announced a slight uptick in profits for the third quarter, reflecting stable operations amidst lower revenue and global price fluctuations.

The firm recorded a net profit of 32.7 billion reais (approximately $6.05 billion) for the July to September period—a minor increase of 0.5% year-on-year. In dollar terms, profits rose by 2.7%, bolstered by consistent operations and favorable currency movements.

In addition, Petrobras declared a hefty dividend of 12.2 billion reais ($2.25 billion), rewarding investors in an unpredictable energy landscape.

Although overall revenue decreased by 1.3% to 127.9 billion reais—short of the anticipated 130 billion reais—stronger oil production volumes provided essential backing. The company reported an oil output exceeding 2.5 million barrels per day, achieving multiple operational milestones during this quarter.

Operating metrics remained encouraging, with adjusted EBITDA rising by 0.4% to 63.9 billion reais, surpassing analyst expectations of 62.1 billion reais.

Capital expenditures reached $5.5 billion, representing a 23.7% increase compared to the same period last year, as Petrobras advances its upstream initiatives and enhances refining capabilities.

Despite challenges in global oil pricing, the company's focus on disciplined production and cost management has enabled sustained profitability. These latest results underscore Petrobras' commitment to offering shareholder returns while fostering growth in Brazil's energy arena.