What drove Petrobras to a record production quarter?

The company's record output was fuelled by the early start-up of FPSO P-79 in May, ahead of the business plan schedule, combined with the ramp-up of platforms Maria Quitéria, Alexandre de Gusmão and P-78, plus the activation of 10 new producing wells in the Santos and Campos basins.

How did the flagship Búzios field perform?

The Búzios field, Petrobras's most important asset, surpassed 1.2 million barrels per day in June and, for the first time ever, averaged more than 1 million barrels per day for a full calendar month. The Campos Basin added 559,000 barrels per day, the second-highest figure since late 2023.

What happened at the refineries?

The refining segment hit a total utilisation factor (TUF) of 101.2%, beating the previous all-time record set in 2014. April and May each reached 102.5%, enabling Petrobras to cut fuel imports sharply — crude oil imports fell 43.3% and diesel imports dropped 63.3% versus the prior quarter. Total refined product output rose 5.6% to 1.918 million barrels per day, with quarterly records for S10 diesel (509,000 bpd) and jet fuel (114,000 bpd).

How did exports and energy transition move?

Net exports jumped 26.2% to 1.075 million barrels per day. To offset softer Chinese demand, Petrobras added five new refinery clients across Asia, Europe and Africa. On the energy-transition front, the company expanded renewable feedstock processing, sold more SAF (Sustainable Aviation Fuel) and signed the ProFloresta+ contract with BNDES to acquire 5 million carbon credits from Amazon ecological restoration.

Key Facts:
  • Total production: 3.34 million boed — a record high, up 14.1% year-on-year
  • Búzios field: first monthly average above 1 million bpd
  • Refinery utilisation: 101.2% TUF, surpassing the 2014 record
  • Crude imports down 43.3%; diesel imports down 63.3% quarter-on-quarter
  • Net exports up 26.2% to 1.075 million bpd
  • 5 million carbon credits via ProFloresta+ with BNDES