Petrobras, Brazil’s state-controlled oil giant, has achieved a production milestone amid global energy market turbulence caused by the Iran war. In the third quarter of 2026, the company boosted output to a record high, operating its refineries at near-full capacity to mitigate disruptions.
The company’s oil and gas production surged 12% year-over-year, reaching 3.51 million barrels of oil equivalent per day. Compared to the second quarter, output grew 5.3%, driven by the activation of new deep-water platforms, including the P-78 and P-79 units at the massive Buzios project.
Petrobras formally known as Petroleo Brasileiro SA, detailed these developments in a filing released on Wednesday. The company’s strategic moves have helped Brazil navigate the challenges posed by the ongoing conflict in Iran, which has destabilized global energy markets.