Petrobras Operates Above Capacity at Refineries and Offshore Platforms

Petrobras ran its refining system at more than 100% of its nominal capacity in the second quarter, a result of higher international oil prices linked to the conflict in Iran. Modernisation of plants dating back to the 1980s, highlighted by Karine Fragoso of the Federation of Industries of Rio de Janeiro (Firjan), allowed the company to cut fuel imports while keeping domestic supply a priority. The national refining capacity, traditionally around 1.8 million barrels per day, is being expanded toward 2.1 million barrels per day.

At the same time, Petrobras produced above the design limits of its offshore platforms, including the Almirante Tamandaré super‑platform in Búzios. An extra 134 thousand barrels per day—about 5% of total output—pushed the company to a record 3.34 million barrels of oil equivalent per day in Q2. Seven FPSOs are already operating above capacity, with three more slated to start, adding another 124 thousand barrels per day. Director of Engineering, Technology and Innovation Renata Baruzzi said this “has become the new normal”. Executives warned that without new discoveries in areas such as the Equatorial Margin, Brazil could become a net oil importer by the 2030s.