Brazil registered a new oil production record in June, according to the Monthly Bulletin of Oil and Gas Production, from the National Petroleum, Gas and Biofuels Agency (ANP). As the prices of the commodity and its derivatives have soared on the international market since February 28, when the United States and Israel began attacks on Iran, the growing extraction of crude oil has certainly translated into more profits for oil companies. But, on the other hand, the government spends more to avoid rising fuel prices and, with it, an increase in inflation, as Brazil still depends on imports.
Brazil breaks oil production record while spending billions on subsidies
Brazil registered a new oil production record in June, according to the Monthly Bulletin of Oil and Gas Production, from the National Petroleum, Gas and Biofuels Agency (ANP). As the prices of the commodity and its...
The average oil production in the country in June was 4.475 million barrels per day (bpd), reports g1. The previous record, reached in April, was 4.340 million bpd. The June mark represents an increase of 4% compared to May and 19.1% compared to June 2025, shows the ANP.
Of the total volume, almost 3 million barrels per day went to Petrobras (2.6 million bpd), controlled by the government, and PPSA (342 thousand bpd), a 100% state-owned company responsible for the government's part in pre-salt sharing projects. It is enough to meet the internal demand for derivatives, if it weren't for restrictions on refining, and there is plenty for export.
But what draws attention is that, in June, almost 1.5 million barrels of oil extracted daily in the country ended up in the hands of private or state-owned companies from other countries. With emphasis on the British Shell (412 thousand bpd), the French TotalEnergies (197 thousand bpd), the Chinese CNOOC (124 thousand bpd) and the Portuguese Petrogal (112 thousand bpd).
Petrobras will release its financial results for the 2nd quarter next Thursday (6/8). But it is already known that the conflict in the Middle East caused Shell's profit to reach US$9.82 billion (R$50 billion) last quarter, a value 42% higher than that recorded in the period from January to March this year, reports Valor. And TotalEnergies recorded an adjusted net profit of US$6 billion (R$30.6 billion) in the same period, 12% higher than the result for the 1st quarter of 2026, according to Valor. Shareholders are grateful.
Meanwhile, on the last day of July, the Brazilian government published a provisional measure that allocated R$3.473 billion to gasoline and diesel subsidies. It was the 9th MP published since the start of the war in the Middle East, recalls Axis. In five months of conflict, the government has already allocated R$17.7 billion to subsidize petroleum derivatives. A figure equivalent to a third of the profit that Shell made in just three months.
CNN Brasil, Brasil 247, Investing.com and UOL also reported the record oil production in Brazil.
Source: ClimaInfo
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