Petrobras Q2 Profit Soars to $10.4 Billion on Record Oil Production
Petrobras, the Brazilian operator, reported its highest quarterly financial results in history after achieving record oil production during Q2 of 2026. The company's net income soared to R$52.4 billion (US$10.4 billion) as it continued to ramp up output from its offshore pre-salt developments and major E&P projects.
Total oil and natural gas production reached a record 3.34 MMboed, while Petrobras-operated production climbed to 4.87 MMboed. Operated pre-salt production also hit a record 2.78 MMboed, supported by improved operating efficiency and the continued startup of new offshore developments.
Petrobras-operated oil production in Brazil averaged 2.7 MMbpd, up 15% from Q2 of 2025, leading to increased crude exports to nearly 1 MMbpd during the period.