Petrobras produced 2.96 million barrels of oil per day in September — The Rio Times
In Brazil, state oil company Petrobras produced 2.96 million barrels of oil per day in September 2026, 1% more than in August. The figure is based on preliminary data from Brazil’s National Agency of Petroleum, Natural Gas and Biofuels, compiled by Bradesco BBI, The Rio Times reports. Brazilian financial media called this level a record.
According to Bradesco BBI’s calculations, Petrobras’ average daily oil production in the third quarter amounted to 2.89 million barrels. This was 6% higher than in the previous quarter and above the market consensus of 2.77 million barrels per day.
The role of the Búzios and Tupi fields
Production growth was driven primarily by two major pre-salt fields in the Santos Basin off the coasts of the states of Rio de Janeiro and São Paulo. Production at Tupi rose by 8% in September, reaching about 550,000 barrels per day after standing at around 500,000 barrels from May through August.
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At Búzios, production increased by 2% and remained above 1 million barrels per day. According to the regulator’s August bulletin, oil production at this field amounted to 1.172 million barrels per day. In July, Petrobras reported that, following the commissioning of the P-79 platform on May 1, 2026, Búzios’ installed production capacity had increased to approximately 1.33 million barrels per day.
Agreement with partners
On October 13, Petrobras also announced the signing of agreements to equalize costs and volumes in the shared Berbigão and Sururu reservoirs in the Santos Basin. The company is to receive a net amount of about $859 million from its partners by November 2026.
Petrobras’ partners in the BM-S-11A consortium are Shell, TotalEnergies and Petrogal Brasil, affiliated with Portugal’s Galp. The arrangements became possible after the regulator approved agreements on reservoirs that cross the boundaries of contract areas. The September data remain preliminary: the regulator’s consolidated bulletin and Petrobras’ quarterly report are still to be released.
