# Petrobras Raises 2026 Spending Forecast to $24 Billion–$25.5 Billion

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/54560
Published: 2026-11-11T22:24:00.000Z
Updated: 2026-11-11T22:24:00.000Z
Section: Business

> Third-quarter earnings missed Wall Street expectations, while $2.7 billion in announced shareholder distributions fell below a $3.8 billion estimate.

Petrobras raised its 2026 capital spending forecast to $24 billion–$25.5 billion after third-quarter earnings missed Wall Street expectations, while announced shareholder distributions also fell below estimates.

The Brazilian oil producer increased its forecast from $19.4 billion. Petrobras also recorded a production record and stronger refining margins. Petrobras’ adjusted EBITDA increased 34% year over year.

Petrobras announced $2.7 billion in shareholder distributions, compared with a $3.8 billion estimate. The company is expected to release an updated five-year business plan later this month.