Petrobras' second-quarter oil and gas output rises 14% from a year earlier

Petrobras reported a strong second quarter, with total oil, gas and gas liquids production rising 14.1% year over year to 3.34 million barrels of oil equivalent per day. The increase was driven by ramp-ups at several FPSO units—Maria Quiteria, Alexandre de Gusmao and P-78—as well as the startup of P-79. Oil output in Brazil, Petrobras’ core business, climbed about 15% to 2.69 million bpd. Sales of oil, gas and derivatives increased nearly 12% to 3.33 million bpd, while exports surged 41% to 1.23 million bpd. The figures signal improving operational momentum and support a constructive view on Petrobras’ production profile, which may be positive for revenue and cash generation if oil prices remain supportive.