Petrobras will keep accelerating delivery of oil platform: CEO
TL;DR
Petrobras CEO announces accelerated oil platform delivery, with 2025 production up 11% to 3 million barrels/day and strong reserve growth. Expansion focuses on pre-salt basins, while facing environmental concerns over climate risks and asset viability in a 1.5°C scenario. The 2026-2030 plan balances oil leadership with low-carbon initiatives for a just energy transition.
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Petrobras will keep accelerating delivery of oil platform: CEO
Petrobras reported significant operational progress in 2025, with total oil and natural gas production reaching an average of 3 million barrels of oil equivalent per day, reflecting an 11% year-over-year increase. The company's reserve replacement ratio (RRR) reached 175%, indicating robust replenishment of reserves, with new discoveries outpacing production. This performance, combined with a reserves-to-production (R/P) ratio of 12.5 years, ensures production continuity until at least 2038 under current extraction rates.
The growth is driven by expanded exploration in the pre-salt layer, particularly in the Santos and Campos basins, where fields like Búzios, Tupi, Itapu, and Mero remain central to Brazil's energy output. Additionally, Petrobras has prioritized projects in the Sergipe-Alagoas Basin and initiated environmental licensing for deepwater exploration in the Amazon River Mouth Basin, with potential operations starting in seven to eight years.
While the company emphasizes its strategic focus on energy security and shareholder value, environmental groups have raised concerns about the long-term viability of oil expansion. Observatório do Clima and allied organizations advocate for phasing out oil auctions and restricting drilling in sensitive areas, citing climate risks and the potential obsolescence of up to 85% of Petrobras' assets under a 1.5°C warming scenario.
Petrobras' 2026–2030 business plan underscores a dual approach: maintaining leadership in oil and gas while advancing low-carbon initiatives, including renewable energy and sustainable fuels. The company aims to balance production growth with decarbonization efforts, aligning with its vision of a "just energy transition."
