Petrobras ended the 3rd quarter of 2024 (3Q24) with total own production of 2.689 million barrels of oil equivalent per day (boed), a volume practically in line with the previous quarter. Among the operational highlights of the period are the achievement of peak production of the FPSO Sepetiba, in the Mero field, with the start-up of 3 new producing wells, and the start-up of new wells in projects in the Búzios and Tupi fields. Click here for the 3Q24 Production & Sales Report .
The share of pre-salt oil in the oil load processed at refineries reached 73%, a record level for a quarter (an increase of 4 p.p. compared to 2Q24), demonstrating greater logistical and operational flexibility in deciding to use these streams more efficiently. In addition, in August, the processed load of pre-salt oils was 76%, a new monthly record. The increased share of pre-salt in the load favors the production of higher value-added derivatives and the reduction of greenhouse gas emissions.
Production and sales of derivatives in the domestic market grew 4.2% in the 3rd quarter of 2024 compared to the previous quarter, driven by the seasonal increase in demand. In September 2024, Petrobras had the best monthly result of the year for the total utilization factor (FUT) of the refining park, reaching 97%. This result reflects the high level of operational efficiency of the refining park and the strong integration with the company’s logistics and marketing areas. Total production of oil products was 1,818 thousand barrels per day (Mbpd), prioritizing high value-added products (diesel, gasoline and jet fuel accounted for 68% of total production), even with maintenance shutdowns carried out at Replan, Reduc, Revap and RPBC during the quarter. The company is continuing its path to greater energy efficiency in the refining park with the RefTOP (World Class Refining) Program. The optimization projects and initiatives of this program contributed to reaching 101.0 in Energy Intensity in the quarter, the best result in history, 2.1 points below 2Q24.
The results achieved are the result of investments in projects to modernize the refining units, asset reliability, process optimization and the application of innovative technologies.
Gasoline production in 3Q24 was 438 thousand barrels per day, which represents a quarterly record. In 3Q24, Petrobras achieved 3 consecutive months of growth in sales of diesel with renewable content (Diesel R), reaching 3.7 Mbpd in September, double the previous record set in April 2024. Additionally, with a focus on competitiveness and decarbonization, we established an agreement with Vale for testing and studies on the supply of low-carbon products, including the use of Diesel R in the mining company’s vehicles, marking the first direct sale of this type of diesel by Petrobras.
Asphalt sales totaled 816.7 thousand tons in 3Q24, the best quarterly result since 2014. Petrobras sold 6.0% more diesel in the period due to the seasonal increase in consumption in the third quarter, with the planting of the Summer Grain Harvest and the increase in industrial activity. Gasoline sales in 3Q24 grew by 1.0% compared to 2Q24, mainly due to the increased competitiveness of gasoline in relation to hydrated ethanol in the supply of flex-fuel vehicles. The 3.8% increase in QAV sales in 3Q24 compared to the previous quarter is due to the seasonal increase in demand in the sector, due to the holiday period and greater economic activity. LPG sales volume increased by 3.2% due to the greater activity of the manufacturing industry in the third quarter and the lower average temperatures recorded in the main consumer centers in the country during this period.
Other operational highlights
The operational results are in addition to important milestones recently announced by Petrobras. The FPSO Maria Quitéria went into operation on October 15. The platform, installed in the Jubarte field, in the pre-salt layer of the Campos Basin, is equipped with technologies to reduce emissions, including the combined cycle in power generation, which allows for greater operational efficiency associated with a reduction of approximately 24% in operational greenhouse gas emissions. Its production capacity is 100 thousand barrels per day of oil and 5 million cubic meters per day (MMm³/d) of natural gas.
The FPSO Marechal Duque de Caxias is on location, in the final stages of preparation for entry into operation. With the capacity to produce up to 180 Mbpd of oil and 12 MMm³/d of natural gas, this FPSO will be the third definitive production system for the Mero field, in the pre-salt layer of the Santos Basin. The Duque de Caxias will be a pioneer in the use of HISEP® technology, patented by Petrobras, starting in 2028. This technology will allow the separation of oil and gas at the bottom of the ocean and, together with other technologies such as CCUS (Carbon Capture, Utilization and Storage), will enable the reduction of CO2 emissions.
Another important milestone is the arrival in Brazil of the FPSO Almirante Tamandaré, coming from China. The platform will be the first high-capacity unit to be installed in the Búzios field, with the potential to produce up to 225 Mbpd and process 12 MMm³/d of natural gas.
Finally, the Rota 3 Natural Gas Processing Unit (UPGN), located in the Boaventura Energy Complex (Itaboraí – RJ), began the start-up procedure of its first module in September. The unit is gasified and the first commercial gas is expected to occur in the coming days. With the start-up of the second module, planned to take place later this year, the total processing capacity will be 21 MM m³/d.
Brazil Energy Insight 
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