PETROBRAS INCREASES OIL PRODUCTION IN BRAZIL BY 2.6% IN THE 2ND QUARTER WITH NEW PLATFORMS

Petrobras’ oil production in Brazil increased by 2.6% in Q2 2023, reaching an average of 2.16 million barrels per day, due to the operational progress of new FPSO platforms and 12 new wells in the Campos and Santos Basins. The company plans to launch two more platforms this year, including the Marechal Duque de Caxias and FPSO Maria Quitéria. However, production dropped 3.6% compared to Q1 2023, mainly due to maintenance and natural decline in mature fields. Oil exports rose 58.4% year-over-year to 651,000 bpd. Total oil and gas production, including international operations, averaged 2.7 million barrels of oil equivalent per day, a 2.4% increase year-over-year. Petrobras’ refining utilization rate was 91%, with a decline in petroleum derivative production and diesel imports.
Source: Nova Cana