Petrobras reported record oil and gas production in the second quarter of 2026, with average equity output reaching 3.34 million barrels of oil equivalent per day, a 14.1% increase from a year earlier and 3.4% above the first quarter. The growth was driven by improved operating efficiency and production ramp-ups at several floating production units, including the Maria Quitéria FPSO, the Alexandre de Gusmão FPSO, the P-78 unit, and the startup of the P-79 platform at the Búzios field, where average monthly production surpassed 1 million barrels per day for the first time in June. The company also achieved a record refinery utilization rate of 101.2%, surpassing the previous high set in 2014, which helped lift refined product output to 1.918 million barrels per day and reduce imports of refined products to a record low of 67,000 barrels per day. Pre-salt crude represented 73% of refinery feedstock during the quarter, and in April all of Petrobras' refineries became capable of processing 100% pre-salt crude under its RefTOP modernization program. Higher crude production also pushed exports to nearly 1 million barrels per day while crude imports fell to 89,000 barrels per day, their lowest since the COVID-19 pandemic.
Petroleo Brasileiro Petrobras SA ADRRecord oil and gas production and refinery utilization rate indicate strong operational performance and efficiency gains.