# Brazil oil output record, flaring and gas exports rise > Live situation record from CLSTR: https://clstr.news/situations/brazilian-stock-market-activity-surge > Updated: 2026-08-31T04:54:08.000Z. Sources: 73. Developments: 9. Petrobras reaffirmed its record Q2 2026 performance, producing 3.34 million barrels of oil equivalent per day (boed), a 14.1% increase year-on-year. This growth was driven by efficiency gains at the Maria Quitéria, Jubarte, Alexandre de Gusmão, and Mero fields, alongside the start-up of the FPSO P-79 in the Búzios field. Refinery utilization reached 101.2%, while offshore platforms, including the Almirante Tamandaré, operated above design limits. Director of Engineering, Technology and Innovation Renata Baruzzi noted that operating above capacity “has become the new normal”. In June 2026, national oil and gas output hit a record 5.842 million boe/d. While oil production rose 19.1% compared to June 2025, gas flaring also increased by 10.1% year-on-year, largely due to the commissioning of the P-79 platform. The surge in production contributed to a massive real-terms rise in sector tax revenue compared to June 2025. Natural gas exports from the Búzios field reached new milestones in August 2026, with a monthly average exceeding 10 million m³/d, surpassing the previous record of 9.1 million m³/d set in March 2026. A single-day peak of 14.1 million m³/d was recorded on August 6. Petrobras attributed these gains to the optimization of existing units and the modernization of gas treatment plants on platforms P-74 through P-77, which doubled their individual export capacities by replacing carbon dioxide removal membranes. Looking ahead, Petrobras expects continued expansion as platforms P-78 and P-79 are scheduled to begin operations by 2027. By the end of the field's development, eight of the planned 12 platforms are expected to have gas export capabilities, including the Búzios 12 unit, projected to start in 2032. ## Claims - Petrobras total oil and gas production reached 3.34 million barrels of oil equivalent per day in Q2 2026. (corroborated by 17 sources) - Exports rose to about 1 million barrels per day in Q2 2026. (corroborated by 16 sources) - Ten new producer wells entered operation in Q2 2026, four in the Campos Basin and six in the Santos Basin. (corroborated by 16 sources) - Refinery utilisation reached 101.2% in Q2 2026. (corroborated by 16 sources) ## Timeline ### 2026-08-31: Búzios field sets record natural gas exports Petrobras's Búzios field set new natural gas export records in August, exceeding 10 million cubic meters per day through the optimization of existing offshore production platforms. 5 sources. https://clstr.news/cluster/bzios-field-sets-record-natural-gas-exports ### 2026-08-26: Búzios field sets record natural gas export levels Petrobras' Búzios field set new records for natural gas exports in August, averaging over 10 million cubic meters per day through plant modernization and unit optimization. 21 sources. https://clstr.news/cluster/bzios-field-sets-new-natural-gas-export-records ### 2026-08-03: Brazil hits record oil output in June 2026 Brazil's June 2026 oil output hit a record 5.842 m boe/d, with oil at 4.475 m bpd and gas at 217.3 m m³/d; pre‑salt supplied 82%, Petrobras 87%, and flaring rose due to the new P‑79 platform. 8 sources. https://clstr.news/cluster/brazils-oil-and-gas-output-hits-record-high-in-june ### 2026-07-31: Petrobras Operates Above Capacity at Refineries and Offshore Platforms Petrobras ran its refineries and offshore platforms above design capacity in Q2, adding 134,000 bpd and hitting a 3.34 million boe/day record amid higher oil prices from the Iran conflict. 2 sources. https://clstr.news/cluster/petrobras-operates-above-capacity-at-refineries-and-offshore-platforms ### 2026-07-28: Petrobras reports record 14% rise in oil and gas output in Q2 2026 Petrobras recorded a 14.1% YoY increase in Q2 2026 oil‑gas output to 3.34 MM boed, added ten new wells, saw exports hit 1 MM bpd, imports drop to 89 k bpd, and refinery use hit 101.2%. First‑half production was 45 sources. https://clstr.news/cluster/petrobras-reports-record-334-million-boed-oil-and-gas-production-in-q2-2026 ### 2026-07-06: Brazil oil production climbs 10.7% in Q2, Goldman Sachs raises Brazil output forecast PRIO boosted Q2 oil output 10.7% to 172,000 boepd, while Goldman Sachs projects Brazil’s production to rise to 4.8 mb/d by 2028 and keeps a buy rating on Petrobras. 3 sources. https://clstr.news/cluster/brazil-oil-production-climbs-107-in-q2-goldman-sachs-raises-brazil-output-forecast ### 2026-07-01: US oil inventories fall while Brazil's Prio boosts June production US oil inventories fell 3.8 M barrels and refinery use rose, while Brazil's Prio raised June output to 178 k barrels per day, an 8 % increase from May. 2 sources. https://clstr.news/cluster/us-oil-inventories-fall-while-brazils-prio-boosts-june-production ### 2026-06-17: Brazilian companies announce dividends, financing moves and market activity Brazilian firms disclosed dividends, a new oil well, a loss at Jalles Machado, Raízen control talks, higher B3 trading volume and several governance updates across multiple companies. 2 sources. https://clstr.news/cluster/brazilian-companies-announce-dividends-financing-moves-and-market-activity ### 2026-06-02: Brazil's B3 oil, gas and fuel stocks hit record trading volume Brazil's B3 logged a record R$133.07 bn in oil, gas and fuel stock trading in March, driven by a surge in Petrobras activity and high oil prices. 2 sources. https://clstr.news/cluster/brazils-b3-oil-gas-and-fuel-stocks-hit-record-trading-volume --- Cite as: Brazil oil output record, flaring and gas exports rise. CLSTR, https://clstr.news/situations/brazilian-stock-market-activity-surge