Petrobras: Oil and gas production rises 14%

Brazilian state-owned oil company Petrobras produced an average of 3.359 million barrels of oil equivalent (boe) per day in the first nine months of 2026, up 13.9% from the same period in 2025, the company said.

In the third quarter, Petrobras reached a record 3.512 million boe per day from its own production, up 11.7% year on year and 5.3% from the second quarter, according to its quarterly production and sales report.

The company attributed the result to improved operational efficiency, which reached its highest level in eight years, as well as production ramp-ups and peak output at new floating production, storage and offloading (FPSO) units in the Búzios and Mero fields. Lower production losses from maintenance shutdowns also contributed to the increase.

Twelve new production wells came on stream during the quarter, six in the Campos Basin and another six in the Santos Basin.

Pre-salt oil and gas production accounted for a significant share of the quarterly result. Output from the deepwater hydrocarbon deposits located beneath a thick layer of salt in the Atlantic Ocean reached 2.454 million barrels per day, up 6.7% from the second quarter and 15.9% year on year.