LatinNews Daily - 29 July 2026

*Brazil’s state-controlled oil company Petrobras has released its oil and gas production figures for the second quarter of this year, showing a total of 3.34m barrels of oil equivalent per day (boepd). Marking a quarterly increase of 3.4% and a year-on-year increase of 14.1%, Petrobras stated in a press release that the latest result is a record figure. Oil production in Q2 totalled 2.69m barrels per day (bpd), up 4.1% in quarterly terms and up 15.7% year-on-year, while natural gas production totalled 619,000 boepd, up 1.0% compared to Q1 and up 13.7% compared to Q2 last year. In its latest quarterly report, the oil giant attributed the rise in production to factors such as increased operational efficiency in processing units, as well as the launch of operations in new production wells, such as the four new wells in the Campos Basin and six wells in the Santos Basin. Petrobras highlighted particularly strong results in the Búzios oil field, located in the Santos Basin, with average monthly oil production in Búzios surpassing 1m bpd in June for the first time.

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