Business · Energy & Commodities · 3 hrs ago
Petrobras Sets Production Records as Diesel Imports Rise
Brazil’s state-controlled Petrobras set a record for oil and gas production in the third quarter of 2026, averaging 3.51 million barrels of oil equivalent a day.
New pre-salt platforms and improved operating efficiency helped drive the increase.
The company also produced a record 769,000 barrels of diesel a day, as its refineries ran at 99% of capacity.
But demand was higher still: diesel sales reached 849,000 barrels a day, and imports rose to 110,000 barrels a day from 18,000 in the previous quarter.
Compared with the same quarter a year earlier, diesel imports were down 8.8%, while exports of oil and oil products hit a record 1.25 million barrels a day.
The extra supply and exports matter as war-related disruptions raise global energy costs, while Petrobras sells diesel below the projected cost of importing it.
Analysts have warned that keeping the current price gap could force the company to raise prices to comply with its pricing policy in 2026.
Petrobras reported record average production of 3.51 million barrels of oil equivalent per day in the third quarter of 2026, up 11.7% from a year earlier.
The company said new platforms in the Búzios and Mero fields and improved operational efficiency helped lift output.
Diesel production also reached a quarterly record, but imports rose to 110,000 barrels per day from 18,000 in the previous quarter as domestic demand outpaced refinery output.
Petrobras’ oil and refined-products exports reached a record 1.25 million barrels per day, according to Exame.
The company’s report also showed oil exports of 987,000 barrels per day and a sharp quarterly increase in imports.
- Who
- Petrobras, Brazil’s state-controlled oil producer.
- What
- It reported record third-quarter production while diesel imports rose sharply from the previous quarter.
- When
- The third quarter of 2026. Petrobras released its report on October 28.
- Where
- Brazil, including the Búzios and Mero fields and the country’s refineries.
- Why
- New platforms and improved operational efficiency lifted production. Diesel imports increased as domestic demand, including demand for the summer crop planting season, exceeded refinery output.
This story does not have two clearly opposing sides.
Petrobras’ Almirante Tamandaré platform in Búzios averaged a record 263,000 barrels per day.
The Alexandre de Gusmão platform in Mero reached its planned production level of 180,000 barrels per day.
The Alexandre de Gusmão platform reached 190,000 barrels per day after receiving approval to expand capacity.
Petrobras recorded average production of 3.51 million barrels of oil equivalent per day, while diesel imports rose to 110,000 barrels per day from 18,000 in the previous quarter.
Petrobras released its production and sales report.
- Total production
- 3.51 million barrels of oil equivalent per day
- Year-on-year production growth
- 11.7%
- Diesel imports
- 110,000 barrels per day, up from 18,000 in the second quarter
- Diesel production
- 769,000 barrels per day, a quarterly record
- Oil exports
- 987,000 barrels per day in the third quarter
- China’s share of oil exports
- 40%, up from 35% in the second quarter
5 sources
Petrobras registra produção recorde de petróleo e gás no 3º tri de 2026
Petrobras bate recorde de produção de diesel no terceiro trimestre
Petrobras Pumps at Record as Iran War Upends Oil Markets
Produção de petróleo da Petrobras (PETR4) sobe 12,4% no 3º trimestre de 2026
Produção da Petrobras bate recorde no 3º tri e importação de diesel dispara
What people are saying
We are producing more and making better use of our assets’ potential, with operational excellence, safety and technology. This is how we turn our technical and operational capacity into concrete results, strengthening Petrobras’ competitiveness, creating sustainable value and contributing to Brazil’s energy security.
We exceeded our targets!