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Released October 28, 2025 | SUGAR LAND
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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)
Summary
Petrobras delivered a solid performance in Q3, setting new production and export records. Its downstream segment activity also remained robust.
These figures resulted from record pre-salt output, which averaged 2.11 million barrels of oil per day (BBL/d), 6.6% more than last quarter and 16.2% higher year on year, due to ramp-up and higher volumes from the floating production, storage and offloading vessels (FPSOs) Almirante Tamandare, Duque de Caxias, Maria Quiteria and Alexandre de Gusmao.
All these platforms were installed since last year as part of the company's strategic plan. Petrobras expects to add at least seven more FPSOs between 2026 and 2029.
Post-salt and ultra-deep volumes also rose, reaching 366,000 barrels per day (BBL/d) in Q3, up 17.3% from Q2 and 33.1% year on year, helped by ramp-up of the Anna Nery and Anita Garibaldi FPSOs.
The Buzios field, Brazil's largest producer, hit 900,000 BBL/d on October 7. In September, Petrobras received its newest FPSO, P-78, at Buzios.
The company's oil exports also reached new levels, averaging 814,000 BBL/d in Q3, 18% more than in Q2 and 36.1% higher year on year. This was due to stronger oil production.
China was the main destination for Brazilian crude (53%), followed by other Asian countries (19%, led by India and South Korea), and Europe (15%).
Overall, Petrobras operated production, which includes the volumes operated by the company without subtracting the shares owned by its partners, stood at 4.5 million BOE/d, also a new record.
During Q3, Petrobras maintained a 94% refining utilization rate, despite planned shutdowns at the 168,000 BBL/d Presidente Bernardes (RPBC) and 251,000 BBL/d Henrique Lage (REVAP) refineries, just below 95% a year earlier. Domestic crude oil made up 92% of processed oil, with pre-salt crude at 69%. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Plant Database can click here to see the related plant profiles.
The company produced a total of 1.79 million BBL/d of fuel products. Of those, Petrobras exported 175,000 BBL/d of fuel oil and 48,000 BBL/d of other products. Singapore received 56% of exports, followed by the US at 28%.
Key Takeaways
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Summary
Petrobras delivered a solid performance in Q3, setting new production and export records. Its downstream segment activity also remained robust.
Petrobras Reports Output Record
Petrobras (Rio do Janeiro, Brazil) set a new hydrocarbons output record of 3.14 million barrels of oil equivalent per day (BOE/d), about 16.9% more than the same period last year and 4% higher than the previous record set in 4Q19.These figures resulted from record pre-salt output, which averaged 2.11 million barrels of oil per day (BBL/d), 6.6% more than last quarter and 16.2% higher year on year, due to ramp-up and higher volumes from the floating production, storage and offloading vessels (FPSOs) Almirante Tamandare, Duque de Caxias, Maria Quiteria and Alexandre de Gusmao.
All these platforms were installed since last year as part of the company's strategic plan. Petrobras expects to add at least seven more FPSOs between 2026 and 2029.
Post-salt and ultra-deep volumes also rose, reaching 366,000 barrels per day (BBL/d) in Q3, up 17.3% from Q2 and 33.1% year on year, helped by ramp-up of the Anna Nery and Anita Garibaldi FPSOs.
The Buzios field, Brazil's largest producer, hit 900,000 BBL/d on October 7. In September, Petrobras received its newest FPSO, P-78, at Buzios.
The company's oil exports also reached new levels, averaging 814,000 BBL/d in Q3, 18% more than in Q2 and 36.1% higher year on year. This was due to stronger oil production.
China was the main destination for Brazilian crude (53%), followed by other Asian countries (19%, led by India and South Korea), and Europe (15%).
Overall, Petrobras operated production, which includes the volumes operated by the company without subtracting the shares owned by its partners, stood at 4.5 million BOE/d, also a new record.
During Q3, Petrobras maintained a 94% refining utilization rate, despite planned shutdowns at the 168,000 BBL/d Presidente Bernardes (RPBC) and 251,000 BBL/d Henrique Lage (REVAP) refineries, just below 95% a year earlier. Domestic crude oil made up 92% of processed oil, with pre-salt crude at 69%. Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Plant Database can click here to see the related plant profiles.
The company produced a total of 1.79 million BBL/d of fuel products. Of those, Petrobras exported 175,000 BBL/d of fuel oil and 48,000 BBL/d of other products. Singapore received 56% of exports, followed by the US at 28%.
Key Takeaways
- Petrobras breaks new production records in Q3
- Oil exports were the highest on record with 814,000 BBL/d, driven by higher production from FPSOs
- The company's refining utilization factor stood at 94% through the quarter, despite scheduled shutdowns
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
