Rio de Janeiro – Brazil’s state-run oil firm Petrobras reported record total oil and gas production of 3.34 million barrels of oil equivalent per day (boed) in the second quarter, up 14.1% from a year earlier and 3.4% from the first quarter of 2026.
According to Petrobras, the increase was driven by improved efficiency at the Maria Quitéria FPSO in the Jubarte field, the Alexandre de Gusmão FPSO, the P-78 FPSO in the Búzios field, and the start-up of the P-79 FPSO, also in the Búzios field. The company said 10 new production wells came on stream during the quarter, including four in the Campos Basin and six in the Santos Basin.
Exports
Higher production lifted exports to about 1 million barrels per day (bpd), while crude oil imports fell to 89,000 bpd in the second quarter, the lowest level since the pandemic.
Refinery utilization reached 101.2% during the quarter. Petrobras said the higher operating rate has been key to boosting domestic fuel supplies amid the war in the Middle East and volatility in global oil prices.
Domestic sales remained broadly stable from the first quarter, as higher diesel and LPG sales offset weaker demand for other products.
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Translated by Guilherme Miranda
