Overview
- Petrobras said its refineries operated above their nominal capacity in April and May, with brief peaks near 103% under ANP-approved limits for safe, clean and on-spec production.
- In refining, the company posted a 95% utilization rate for the first quarter and 97.4% in March, the highest since December 2014, as total fuels output rose 6.7% from late 2025 to 1.816 million barrels per day.
- Management linked the higher run rates to equipment reliability work, risk-based inspections and faster turnarounds after most major maintenance was concentrated in 2025.
- Upstream strength supported the push, with company-owned production hitting a record 3.23 million boe per day in the first quarter, driven by new FPSOs ramping and 10 producing wells starting up in the Campos and Santos basins.
- Refineries processed more pre-salt crude, which reached 69% of feed, and LPG imports fell to 26,000 barrels per day, the lowest level the company has reported.