Brazilian state-run oil company Petrobras said on Monday its crude oil production during the second quarter rose 2.6% from the year-ago period after it ramped up five oil platforms and started production in 12 wells.
Petrobras pumped 2.16 million barrels per day (bpd) from April to June, and produced 2.7 million barrels of oil equivalent per day (boepd), a 2.4% increase over the same period in 2023, the company said in a statement.
Production from the firm's pre-salt fields, an oil-rich offshore region off the country's southeastern Atlantic coast, grew 6.3%, helping offset a decrease in production on Petrobras' other fields.
Sales of oil gas and derivatives reached 2.94 million boepd, a 4% increase over the year. While sales to the domestic market fell 4.4%, they were compensated by a 30% growth in sales to the foreign market.
Total exports rose 36% on a year-on-year basis, with 851,000 bpd of oil and derivatives exported in the period. Oil exports rose 58% in the period.
The period marked the continuing of a trend for the firm's exports - with 50% of all oil exports now going to China, up from 28% in the second quarter of 2023.
Europe also grew as a destination for Petrobras oil exports responding for 30%, up from 20% last year. Latin America decreased its share from 26% to 5% in the period.
Petrobras is expected to post its full financial results for the second quarter on Aug. 8.
(Reuters - Reporting by Andre Romani and Fabio Teixeira; Editing by Richard Chang and Stephen Coates)