By Brazil Stock Guide – Brazil’s oil and gas production reached an unprecedented 5.16 million barrels of oil equivalent per day (boe/d) in July, according to data released by the national petroleum regulator ANP and reported by Reuters. The figure represents a 23.3% increase from the same month a year earlier and marks the first time the country has surpassed the 5 million boe/d threshold.
The strong performance was led by new platforms entering operation and expanded output from pre-salt fields in the Santos Basin.
Pre-Salt Fields Lead Growth
The country’s top-producing pre-salt fields — Tupi, Búzios and Mero — saw robust gains. Tupi pumped nearly 800,000 barrels of oil per day, while Búzios, set to become Brazil’s largest producing field, delivered 774,000 bpd. Combined, pre-salt output hit a record 4.07 million boe/d.
Oil alone accounted for 3.96 million barrels per day in July, up 5.4% from June and 22.5% higher than July 2024.
Petrobras Drives Record
Petrobras (BVMF: PETR3; PETR4, NYSE: PBR), as a consortium partner, pumped 2.4 million bpd in July, a jump of about 20% from a year earlier. The country’s second-largest producer also expanded output, reaching 412,000 bpd compared with 345,000 bpd in the same month last year.
Post-Salt and Natural Gas
In the post-salt layer, production climbed back above 800,000 bpd, a level not seen since February 2024. Brazil’s natural gas production rose to 190.89 million cubic meters per day, up 5.1% from June and 26.1% year-on-year.
Of the total gas extracted, only 63.8 million cubic meters per day were available to the domestic market, while more than 100 million cubic meters were reinjected into producing fields.