Petrobras Hydrocarbons Production in Brazil Jumps 14.1% in Q2

Written by Amir Richani for IIR News Intelligence

Summary

Petrobras reported record hydrocarbon production of 3.34 million barrels of oil equivalent per day during the second quarter, a 14.1% year-on-year increase. The company also achieved record refinery utilization, supporting a 10.9% increase in oil products output and reducing its need for crude oil and diesel imports.

Record Oil, Natural Gas Liquids, Natural Gas Production

The Brazilian state company reported record average oil, natural gas liquids and natural gas production of 3.34 million barrels of oil equivalent per day (boed) during the second quarter of 2026, an increase of 14.1% compared with the same period in 2025 and 3.4% up from the first quarter this year.

The company's operated production, including volumes belonging to its partners, also reached a record 4.87 million boed.

The production increase was mainly driven by improved operational efficiency, the ramp-up of the Maria Quitéria FPSO in the Jubarte field, Alexandre de Gusmao in Mero, and P-78 in Búzios, as well as the start-up of the P-79 FPSO in Búzios, which began production three months ahead of the schedule in the company's business plan. The Industrial Info Resources Global Market Intelligence (GMI) Oil & Gas Production Plant Database offers detailed profiles of these facilities,

Petrobras said improvements in operational efficiency added approximately 70,000 barrels per day (bpd) compared to second-quarter 2025.

Oil and natural gas liquids production reached 2.69 million bpd, a 15.2% year-on-year increase. Pre-salt oil production accounted for 2.3 million bpd of the total, up 15.8% from second-quarter 2025 and 5% from the previous quarter.

In terms of natural gas, the company produced 619,000 boed, a 10.7% year-on-year increase.

The Buzios field was one of the main drivers of Petrobras' stronger performance, with its platforms reaching average production of 1.1 million bpd on June 23 before setting a new record of 1.2 million bpd on June 26.

Production at the Mero field averaged approximately 740,000 bpd during the quarter.

Industrial Info Resources is tracking 245 upstream oil and gas production projects from Petrobras in Brazil, with a total investment value of US$33.19 billion. Of these, 18 are grassroot FPSO projects aimed at increasing production, representing investments of US$22.05 billion.

Record Refinery Utilization and Lower Imports

In the downstream segment, Petrobras reported oil products output of 1.92 million bpd during the second quarter, up 10.9% compared to the same period in 2025 and 5.6% from first-quarter 2026.

The company's refinery utilization factor reached a quarterly record of 101.2%.

The stronger performance was supported by investments in revamps, operational improvements and efforts to increase the production of higher-value oil products.

Diesel output reached 764,000 bpd, a 12.4% year-on-year increase, while gasoline production rose 5% to 424,000 bpd.

Petrobras also recorded quarterly records of 509,000 bpd for S-10 diesel and 109,000 bpd for jet fuel, with the Paulínia Refinery (REPLAN), Abreu e Lima Refinery (RNEST), and Presidente Getúlio Vargas Refinery (REPAR) achieving record S-10 diesel output.

Oil products imports fell to 67,000 bpd, their lowest quarterly level on record thanks to higher domestic refining output, while imports of crude oil also dropped as Brazilian crude accounted for 93% of the refining slate.

Industrial Info Resources is tracking 175 Petrobras-owned downstream projects, worth US$4.96 billion.

Key Takeaways

• Petrobras' hydrocarbons production reached a record 3.34 million boed during Q2, a 14.1% year-on-year increase.
• Oil products output rose by 10.9% to 1.92 million bpd, supported by a record refinery utilization factor of 101.2%.
• Higher production reduced oil products imports to 67,000 bpd, the lowest quarterly volume on record, while exports increased by approximately 41%.

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, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).