Petrobras reported record oil and gas production in the third quarter of 2026, as Brazil navigates disruptions in global energy markets. The state-controlled company produced 3.51 million barrels of oil equivalent per day, up 12% from a year earlier. Output rose 5.3% from the second quarter.
The increase came as new platforms ramped up in deepwater fields, including the giant Buzios project, and operational efficiency improved. Petrobras also ran its refineries at 99% capacity, near full utilization, and achieved record diesel production.
Analysts said the company’s operational performance puts it ahead of its 2026 guidance.