Economy & Business - August 2026

BRAZIL | Petrobras posts record production. Brazil’s state-controlled oil company Petrobras released its oil and gas production figures for the second quarter on 28 July, showing a total of 3.34m barrels of oil equivalent per day (boepd). This marked a quarterly increase of 3.4% and a year-on-year increase of 14.1%, and it is a record figure for the company, Petrobras said. Oil production in Q2 totalled 2.69m barrels per day (bpd), up 4.1% in quarterly terms and a 15.7% increase year-on-year, while natural gas production totalled 619,000 boepd, up 1% compared to Q1 and up 13.7% compared to Q2 last year. In its latest quarterly report, the oil giant attributed the rise in production to factors such as increased operational efficiency in processing units, as well as the launch of operations in new production wells. Petrobras highlighted particularly strong results in the Búzios oil field, located in the Santos Basin, with average monthly oil production in Búzios surpassing 1m bpd in June for the first time.

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