Petrobras Posts Record Profits as Oil Production Soars
Brazilian energy giant Petrobras reported a significant increase in net income for the second quarter of 2026, thanks to rising oil production and stronger crude prices. The company's net income reached R$52.4 billion ($10.4 billion), nearly doubling from the same period last year.
Petrobras' own oil output in Brazil reached a record 2.7 million barrels per day, 15% above the second quarter of 2025. Total oil and natural gas production also hit a new high at 3.34 million barrels of oil equivalent per day.
The company's pre-salt operations accounted for much of the growth, with Petrobras' own pre-salt production reaching a record 2.78 million boed. The Búzios field produced an operated 1.219 million bpd on June 26 following the start-up of the P-79 FPSO.