Petrobras Hits Record Hydrocarbon Production in Q2 with 14.1% Year-on-Year Increase
Petrobras, the Brazilian state-owned oil and gas company, reported its highest hydrocarbon production ever in the second quarter of this year. The company produced an average of 3.34 million barrels of oil equivalent per day (boed), a significant increase of 14.1% compared to the same period last year.
The growth was mainly driven by improvements in operational efficiency, the start-up of new production facilities such as the P-79 FPSO in Búzios, and the ramp-up of existing fields like Maria Quitéria in Jubarte and Alexandre de Gusmao in Mero. The company's operated production also reached a record 4.87 million boed.
Oil and natural gas liquids production rose by 15.2% to 2.69 million barrels per day (bpd), while pre-salt oil production accounted for 2.3 million bpd, up 15.8% from the same period last year. Natural gas production reached 619,000 boed, a 10.7% year-on-year increase.
In the downstream segment, Petrobras reported record refinery utilization of 101.2%, supporting a 10.9% increase in oil products output to 1.92 million bpd. The company's diesel output rose by 12.4% to 764,000 bpd, while gasoline production increased by 5% to 424,000 bpd.