Petrobras stock sets third-quarter production record

Petrobras reported a record average production of oil, natural gas liquids and natural gas in the third quarter on October 28, highlighting stronger offshore operations ahead of the companys next results. Reuters reported total output of 3.51 million barrels of oil equivalent per day, up 11.7 percent from the year-earlier quarter.

Petrobras gave the exact figure as 3.512 million barrels of oil equivalent per day, 5.3 percent above the second quarter. The company attributed the increase to its highest production efficiency in eight years, the ramp-up of the P-78 and P-79 floating production, storage and offloading units at Buzios, peak production at the Alexandre de Gusmao unit in Mero and fewer losses from maintenance stoppages. The figures were published by Petrobras.

Offshore growth drives the record

Twelve new producing wells started operations during the quarter, with six in the Campos Basin and six in the Santos Basin. Petrobras also said the Alexandre de Gusmao FPSO reached its original design capacity of 180,000 barrels per day on August 25 and later reached a daily peak of 190,000 barrels on September 3 after a capacity expansion.

The Mero field produced an average of 760,000 barrels of oil per day across its platforms during the quarter. In Buzios, the Almirante Tamandare FPSO reached a record monthly average of 263,000 barrels per day in July. Petrobras said its total operated production, which includes partners shares in fields operated by the company, reached a record 5.08 million barrels of oil equivalent per day.

The companys own pre-salt production reached a record 2.96 million barrels of oil equivalent per day, while operated pre-salt output reached 4.46 million. Petrobras also reported a record associated-gas utilization rate of 98.3 percent. These measures point to higher asset utilization, although production growth still depends on the continued ramp-up of new offshore units and reliable operations.

More capacity is moving offshore

Petrobras said the P-80 and P-82 platforms left a shipyard in Singapore on September 30 and October 18, respectively, bound for the Buzios field. Each unit has nominal capacity for 225,000 barrels per day and is scheduled to start operating in 2027. Their arrival gives investors a visible source of future production growth, but execution, commissioning and offshore uptime will determine how quickly that capacity contributes.

Petrobras stock traded at 19.70 euros on Lang & Schwarz at 11:50 CET on Friday, October 30, 2026. Investors can follow the real-time quote of Petrobras stock.

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