Company’s production reaches 2.92 Mbpd as its crude attracts interest from new global customers amid the current war
Por Fernanda Nunes
Petrobras is producing 2.92 million barrels per day (bpd) from its own operations, according to company CEO Magda Chambriard. The company expects to reach 3 million bpd. The executive expects Petrobras to exceed its oil production target of 2.5 million bpd this year, as established in its 2026-2030 Business Plan. Brazilian crude is drawing interest from new customers amid the global insecurity caused by the war in Iran. Petrobras said it has been approached by countries with which it had not previously maintained commercial ties.
“We had never managed to sell oil to Japan. Then one day the demand came. We are now selling cargoes to Japan, South Korea, China and India. We are supplying markets where we had not supplied before. For Petrobras, it has been an opportunity to diversify,” Chambriard said at the ROG.e 2026 event in Rio de Janeiro.
During her presentation, the Petrobras president said she was “starting to see concerns about countries halting diesel exports.” “Let’s think about becoming 100% suppliers of the diesel we consume. We are making sure this will be an issue on the agenda in the strategic plan,” she said. Petrobras has already secured diesel cargoes for October. In addition, the company is expanding fuel production in two ways: increasing refinery capacity and changing its processes to produce more higher-value fuels, according to the Petrobras president.
Chambriard said she maintains an interesting dialogue with Indian refiners, including India’s largest refiner, Reliance. “So far, nothing is missing and our projections do not indicate a shortage,” said the Petrobras president, who does not expect a reduction in U.S. diesel exports.
“Before the war, things were one way; the war has, so to speak, heightened concerns about the country’s supply and, therefore, heightened our drive to deliver 100% of the gasoline,” Chambriard said.
The Petrobras president also used the opportunity to defend the company against accusations of a monopoly in the natural gas market. According to Chambriard, purchasing gas from partner oil companies is common practice in international markets. “We buy gas from our partners to make businesses viable. So when we bought gas from our partners in Sergipe-Alagoas, we did so to give Indian investors confidence to invest alongside us. When we bought gas from Raia, we did so to give Equinor confidence and make deals viable. We do not buy gas arbitrarily; we buy gas when the seller is interested in selling,” the Petrobras president said.