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Brazil's Petrobras reports record oil exports in third quarter as output rises
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Brazil's Petrobras reports record oil exports in third quarter as output rises
Oct 24, 2025 5:47 PM

RIO DE JANEIRO, Oct 24 (Reuters) - Brazilian state-run

oil firm Petrobras reported record exports of some

814,000 barrels of oil per day in the third quarter, as

production surged and 11 wells started operating, the firm said

on Friday.

That was a 36% increase in oil exports compared to the same

period of last year. China was the destination for 53% of the

firm's shipments in the period, up 14 percentage points from a

year ago.

Asia, excluding China, received 19% of Petrobras' oil

exports, a rise of 5 percentage points, while the share that

went to the United States and Europe fell by half to 3% and 15%,

respectively.

Lower demand from the U.S. as sales increased to India and

South Korea factored in the change, Petrobras said in its output

and sales report.

Total exports by the Brazilian company, including gas and

oil derivatives, reached 1.04 million barrels, up 29% when

compared to the July-September period of last year.

Petrobras produced 2.52 million bpd of oil in Brazil in the

quarter, up about 18%. Beyond the new 11 wells, the firm said

the output increase came from a floating production vessel

reaching peak production, another increasing capacity and four

ramping up.

The firm's total oil, gas and gas liquids production stood

at 3.14 million barrels of oil equivalent per day, an almost 17%

jump year-over-year.

Total sales of oil, gas and oil derivatives were up nearly

10% in the period, to 3.26 million bpd.

Petrobras is set to release its third-quarter earnings on

November 6.

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