Petrobras Sets Quarterly Oil & Gas Production Record on FPSO Ramp-Ups

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Petrobras reports oil and gas production of 3.51 million barrels of oil equivalent per day and 1.87 million barrels per day in fuel production in Q3. Several FPSOs ramp up production while diesel output increases.

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Petrobras' Record Production

Petrobras, the Brazilian energy company, posted record average production of 3.51 million barrels of oil equivalent per day (Boe/d) in Q3 2026, up 11.7% year on year and 5.3% from the previous quarter.

Meanwhile, the company's total operated production, which includes volumes owned by its partners, reached 5.08 million Boe/d during Q3, above the previous record of 4.87 million set in Q2.

The strong performance was driven by the ramp-up of the P-78 and P-79 FPSOs (floating production, storage and offloading) in the Buzios field, lower losses from maintenance and shutdowns, and FPSO Alexandre de Gusmao reaching its 190,000 barrels per day (bpd) of peak production at the Mero field. The Industrial Info Resources Global Market Intelligence (GMI) Oil & Gas Production Plant Database offers detailed profiles of these facilities.

Additionally, Sepetiba FPSO at the Mero field exceeded its originally designed oil processing capacity of 180,000 bpd, reaching a peak of 212,000 bpd in September. FPSO Almirante Tamandare at the Buzios field set a monthly average oil production record for the highest-producing platform in Brazil at 263,000 bpd in July.

In Q3, Petrobras-operated pre-salt production, which includes that of its partners, reached 4.46 million Boe/d; Petrobras' own production reached 2.96 million Boe/d, surpassing the previous 2.78 million record registered in Q2.

In 2027, the company expects to begin production at the P-80, P-82 and P-83 platforms in the Buzios fields. The first two platforms mentioned left the shipyard in Singapore and are heading to Brazil for their commissioning.

Overall, Industrial Info Resources is tracking 19 greenfield oil and gas production projects owned by Petrobras, representing investments of US$22.05 billion. The GMI Oil & Gas Production Project Database offers a full list of detailed project reports.

"These operational results are the outcome of the tremendous efforts and hard work of our Exploration & Production teams, who leveraged a powerful combination of factors: the highest quarterly operational efficiency in eight years, excellent reservoir performance, and a reduction in production decline," said Petrobras Exploration and Production Director Sylvia Anjos.

Downstream Operations

On the downstream front, Petrobras' refining output reached 1.87 million bpd and refinery utilization averaged 99% in Q3. Diesel production reached a record of 769,000 bpd, accounting for roughly 41% of the total volumes. The Paulinia (REPLAN), Alberto Pasqualini (REFAP), and Gabriel Passos (REGAP) refineries also set individual quarterly S-10 diesel production records, with combined output of 240,000 bpd.

Gasoline was the second most produced fuel by Petrobras refineries at 412,000 bpd, followed by fuel oil at 219,000 bpd.

Domestic crude accounted for 93% of total feedstock processed by the company's refineries in Q3.

International Markets

During Q3, Petrobras recorded crude oil exports of 987,000 bpd, 21.3% more than the same period last year. Fuel oil was the most exported fuel at 198,000 bpd, while other oil products averaged 66,000 bpd in the last quarter.

In terms of imports, oil topped the list at 129,000 bpd during Q3, followed by diesel at 110,000 bpd. Higher seasonal demand, especially for diesel and jet fuel, drove imports of fuel products.

Key Takeaways

• Petrobras set a Q3 production record of 3.51 million Boe/d, 11.7% higher year on year.
• Refining output reached 1.87 million bpd, and refinery utilization averaged 99% in Q3.
• Diesel production in Q3 reached a record 769,000 bpd.

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