Brazil’s oil, gas production up 14% in second quarter

Petrobras reported that total oil and gas production (crude oil, natural gas liquids, and natural gas) reached a record high of 3.34 million barrels of oil equivalent per day in the second quarter of 2026, 14.1 percent higher than in the same quarter last year and 3.4 percent higher than in the first quarter of 2026.

According to the company, this performance was driven by improved efficiency at the Maria Quitéria floating production unit in the Jubarte field, the Alexandre de Gusmão and P-78 units in the Mero field, and the start of production from the FPSO P-79 in the Búzios field.

The company reported that ten new producing wells began operation during the quarter, including four in the Campos Basin and six in the Santos Basin.

Exports

Higher production boosted exports to approximately 1 million barrels per day, while oil imports fell to 89,000 barrels per day in the second quarter, the lowest volume since the pandemic began.

During the same period, the refinery utilization rate reached 101.2 percent.

The company noted that, given the war in the Middle East and fluctuations in global oil prices, increased utilization of its refining capacity “has been essential to expanding the supply of refined products in the domestic market.”

Domestic market

Domestic sales remained at a level similar to that of the first quarter, as higher sales of diesel and LPG offset lower consumption of other products.

Source: Agência Brasil

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