Petroleo Brasileiro S.A. (Petrobras) reported a surge in oil production, reaching 2.73 million barrels per day in April 2026, a new monthly record, and increasing production by about 30% from its 2024 average of 2.152 million barrels per day. This rise is attributed to capacity expansion, operational efficiency, and improved reservoir management, particularly in the Búzios field, which is now producing over 1 million barrels per day.
In the first quarter of 2026, Petrobras generated EBITDA of BRL 11.7 billion and net income of $4.5 billion. The company invested $5 billion, predominantly in exploration and production, while gross debt stood at $71.2 billion. Notably, refinery utilization surpassed 100% in April and May, reflecting significant increases in S10 diesel production, which reached 512,000 barrels per day in March.
Petrobras is also evaluating potential partnerships in Mexico and plans to increase its stake in Braskem, where it currently holds approximately 46% of voting shares. While managing challenges related to fuel pricing, the company is committed to capital discipline and plans to ensure steady growth and free cash flow.
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