Petrobras boasts highest profit margin among world’s top oil giants
In the first half of 2026, Petrobras achieved the highest profit margin among a group of major international oil companies, surpassing giants such as Saudi Aramco and the US companies ExxonMobil and Chevron. The numbers can be found in a study released Wednesday (Sep. 16) by the United Federation of Oil Workers (FUP), which brings together unions representing more than 105,000 workers in the oil…
In the first half of 2026, Petrobras achieved the highest profit margin among major international oil companies, outperforming industry leaders like Saudi Aramco, ExxonMobil, and Chevron. These findings are detailed in a report published by the United Federation of Oil Workers (FUP) on September 16, 2026. The study, coordinated by economist Cloviomar Cararine of the Inter-Union Department of Statistics and Socioeconomic Studies (Dieese), compares the financial results of significant oil companies since 2020. For the first time ever, Petrobras topped the profit margin rankings.
Profit margin differs from profit, which is the remaining amount after expenses, costs, and taxes are deducted. Profit margin, however, measures efficiency by indicating what percentage of revenue (fuel, crude oil, and petroleum products sales) turns into profit. A 15% net margin, for instance, means that for every BRL 100 in revenue, BRL 15 remains as net profit. In the Dieese ranking, Petrobras secured a 29.15% margin in the first half of 2026, reporting a net income of BRL 85.1 billion.
The top five profit margins among the surveyed companies were as follows: Petrobras (29.15%), Saudi Aramco (25.48%), Chevron (18.01%), ExxonMobil (16.33%), BP (UK) (14.83%), Equinor (Norway) (12.84%), Shell (Anglo-Dutch) (9.94%), and TotalEnergies (France) (9.44%). Saudi Aramco previously held the highest profit margin from 2020 to 2025, with Petrobras ranking second each year, except for 2024.
The economist attributed Petrobras' success to high operational efficiency, driven by increased production, surging international oil prices due to the Middle East conflict, reduced overhead costs, and Petrobras' integrated operations that encompass both oil production and refining. In Q2 2026, Petrobras set new records with an all-time high of 3.34 million barrels of oil equivalent daily production, with 30% of that sold overseas.
The company also achieved a refinery utilization factor of 101.2%, indicating near-maximum capacity utilization.
Written by urgent.news from Agencia Brasil's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
