Quarterly UpdatesJul 29, 2026, 06:07 AM
Petrobras Achieves Record 2Q26 Production & Refinery Utilization
AI Summary
Petrobras announced record operational performance in 2Q26, with total production of oil, NGL, and natural gas reaching 3.34 MM boed, a 14.1% increase year-over-year. The company also achieved an all-time high refinery utilization factor of 101.2% and significantly reduced oil product imports to a record low of 67 mbpd. Strategic advancements included the early start-up of FPSO P-79 and progress in sustainable fuel production, alongside a commitment to acquire 5 million carbon credits.
Key Highlights
- Total production (oil, NGL, gas) reached a record 3.34 MM boed in 2Q26, up 14.1% YoY.
- Refinery Utilization Factor (FUT) hit an all-time high of 101.2% in 2Q26.
- FPSO P-79 started production in the Búzios field three months ahead of schedule.
- Oil products output increased to 1,918 mbpd, up 5.6% QoQ and 10.9% YoY.
- Oil products imports fell to a record low of 67 mbpd in 2Q26.
- Approved Final Investment Decision (FID) for RPBC HEFA project with 15 mbpd capacity.
- E&P Greenhouse Gas Emission Intensity (GHGI) reduced to 14.4 kgCO2e/boe in 1H26.
- Partnered with BNDES to purchase 5 million carbon credits from Amazon restoration.
Price Impact
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