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South America / GoM >>> Brazil

Brazil: Petrobras' own oil and gas production hits a new record with 11.7% growth in one year

01 Nov 2026

Sales of refined products in the domestic market in the 3rd quarter of 2026 reached the best result in the history of the current refining park, with 1,854 thousand barrels per day.

In the 3rd Quarter of 2026 , Petrobras' average production of oil, NGL and natural gas reached a record 3.512 million barrels of oil equivalent per day (MMboed), 11.7% higher than the same quarter last year and 5.3% higher than 2Q26, mainly due to the highest level of production efficiency in 8 years, the ramp-up of the FPSOs P-78 and P-79 in the Búzios field, the achievement of peak production by the FPSO Alexandre de Gusmão in the Mero field, as well as the lowest volume of losses due to maintenance shutdowns.

FPSO Almirante Tamandaré - Record production of 263 mbpd in July 2026 (Source: Petrobras)

This quarter, 12 new producing wells came online, six in the Campos Basin and six in the Santos Basin.

Key events in Q3 2026

- The increase in operational efficiency of assets, resulting from the reliability of production systems and operational discipline, reached its best level since Q4 2018, consolidating the consistent performance recorded in recent quarters.

- The FPSO Alexandre de Gusmão, the fifth installed in the Mero field in the pre-salt layer of the Santos Basin, reached its originally planned production capacity of 180,000 barrels per day (mbpd) on August 25th. Subsequently, after the implementation of an addendum to increase capacity, and in accordance with regulatory bodies and environmental entities, the platform reached a new production peak of 190 mbpd on September 3rd. Mero, whose platforms together recorded an average oil production of 760 mbpd in Q3 2026, is the third largest oil-producing field in Brazil, behind only Búzios and Tupi.

- Also in the Mero field, the FPSO Sepetiba exceeded its originally designed oil processing capacity of 180 million barrels per day (mbpd), reaching a daily peak of 212 mbpd in September. The platform, chartered from SBM Offshore, is among the leading production units in Brazil.

- The FPSO Almirante Tamandaré, which also produces in the Búzios field, reached a record average monthly oil production of 263 mbpd in July 2026, maintaining its position as the platform with the highest production in Brazil.

- For the first time in Q3 2026, the Búzios platforms surpassed the mark of 11 million m³/d of average natural gas exports. The result consolidates the field's growth trajectory and reinforces the operational reliability of its platforms in the continuous delivery of gas to the Brazilian market.

- The P-80 and P-82 platforms left the Tuas Boulevard Yard shipyard in Singapore on September 30th and October 18th, respectively, bound for the Búzios field, Brazil's largest field in terms of reserves and production, located in the pre-salt layer of the Santos Basin. These two units are part of a set of six giant Petrobras platforms, each with a nominal capacity to produce 225 million barrels per day (mbpd) and compress 12 million cubic meters of natural gas daily, ranking among the largest in the global industry. Both are scheduled to begin operations in 2027, becoming the ninth and tenth units installed in this field.

This quarter saw several records broken, among which the following stand out:

- Total production operated in Q3 2026: 5.08 MMboed (previous record of 4.87 MMboed in Q2 2026).

- Total own production in Q3 2026: 3.51 MMboed (previous record of 3.34 MMboed in Q2 2026).

- Total production operated in the pre-salt layer in Q3 2026: 4.46 MMboed (previous record of 4.24 MMboed in Q2 2026).

- Total own production in the pre-salt layer in Q3 2026: 2.96 MMboed (previous record of 2.78 MMboed in Q2 2026).

- The Associated Gas Utilization Index (IUGA) reached a record high in Q3 2026, achieving a value of 98.3% (previous record of 98.1% in Q4 2025), contributing significantly to the reduction of emissions and greater carbon efficiency.

Highlights of the Refining, Transportation and Marketing segment

In Q3 2026, sales of refined products in the domestic market reached 1,854 million barrels per day (mbpd), the highest volume since Q3 2021 and the best result considering the current refining capacity. Compared to the previous quarter, growth was 6.4%, driven mainly by a 14.4% increase in diesel sales and a 9.9% increase in jet fuel sales.

The positive performance was also reflected in the foreign market, where record exports of 1,251 million barrels per day (mbpd) of oil and refined products were registered.

These results were achieved through integrated planning, high utilization of the refining park, operational efficiency, and logistical optimization, which increased the capacity and flexibility of operations.

Total refined product production was 1,869 million barrels per day (mbpd) in 9M26, representing a 7.2% increase compared to 9M25. In 3Q26, production was 1,873 mbpd, maintaining a high Total Utilization Factor (TUF) of refineries at 99%. It is noteworthy that the TUF result in 3Q26 was 5 percentage points higher than that obtained in 3Q25, with medium-density fuels (diesel and jet fuel) and gasoline accounting for 68% of the total volume produced, reinforcing Petrobras' focus on maximizing the production of higher value-added fuels.

The total processed cargo reached 1,800 mbpd in 9M26, a 7% increase compared to 9M25, with a high share of domestic oil (93%) and pre-salt oils (72%) in the cargo, contributing to lower oil imports during the period.

This result was achieved even with the scheduled maintenance shutdowns at RPBC in Q3 2026, which were essential to ensure the integrity of the equipment and the safety of personnel, as well as contributing to increased operational efficiency and profitability of the production process.

In Q3 2026, Petrobras advanced its decarbonization strategy with the signing of new contracts for the execution of the BioQAV and Renewable Diesel project at RPBC, which foresees the installation of the company's first dedicated plant for the production of renewable fuels, with a capacity of up to 15 million barrels per day.

Additionally, REDUC consolidated its position as the first Petrobras refinery certified by ISCC Corsia to produce SAF (Sustainable Agricultural Fiber) through co-processing for the international market. In July, the unit delivered its first batch of SAF, totaling 3.8 million liters, produced from ILUC (Indirect Land Use Change) soybean oil, ensuring that the raw material is not associated with recent deforestation nor does it indirectly encourage it. REDUC also obtained authorization from ANP (National Agency of Petroleum, Natural Gas and Biofuels) to produce Diesel R with 8.5% renewable content. These advances reinforce the expansion of the portfolio of lower carbon-intensive products and the company's positioning to meet the growing demand for sustainable fuels, contributing to meeting the regulatory demands of the transportation sector.

Here are the highlights of the quarter:

- Bunker fuel delivery by sea has begun at the Suape Industrial Port Complex in Pernambuco, expanding our operations in the North and Northeast markets. This initiative broadens Petrobras' range of solutions in one of the country's most important logistics corridors.

- The first commercial operation to supply HSFO ( High Sulfur Fuel Oil ) bunker fuel was carried out at the Port of Rio de Janeiro, expanding the company's bunker portfolio in a strategic market for international shipping, offering more options for serving large vessels.

- The Starnav Elektra, the first vessel of the Open Sea Program, has been delivered, and Petrobras has advanced in the renewal and expansion of its maritime support fleet. Built in Santa Catarina, the PSV ( Platform Supply Vessel ) incorporates technologies focused on energy efficiency, and is prepared to operate partially on renewable fuel in the future. The fleet renewal reinforces efficiency, safety, and support for the national shipbuilding industry.

Several records were achieved, among which the following stand out:

- Record shipments of oil for export: in July 2026, 37.2 million barrels were reached, and in August 2026, this mark was surpassed, with 37.8 million barrels. This performance was made possible by the optimization of resources, routes, and the reduction of waiting times and berthing times. It should be noted that part of these shipments "remained in transit" at the end of the quarter and, therefore, were not reflected in the total exports for the period.

- New record for CTV ( Cargo Transfer Vessel ) movement: in August 2026, a mark of 6.6 million barrels of oil transferred by CTV was reached , surpassing the previous monthly record of 6.2 million barrels, registered in June 2026. The technology contributes to increasing the flexibility and logistical efficiency of offshore operations, supporting the flow of growing oil production and exports.

- Historical record at the Suape Terminal: in September 2026, the highest number of ships handled at the terminal was recorded – 101 ships. With several operating points between piers and quays, the terminal can receive up to 11 vessels simultaneously. The result reflects integrated planning and execution, high equipment availability, and operational efficiency, increasing the asset's value generation.

- Record diesel production: in Q3 2026 a record quarterly diesel production of 769 mbpd was recorded, and a monthly record in July of 792 mbpd.