Brazil's Petrobras P-66 FPSO in the Santos basin
Brazil rides a production wave
Latin America’s largest economy expects big uptick in crude this year with the imminent arrival of several FPSOs
Brazil’s crude production is set to rebound strongly in 2025 after dipping slightly in 2024. Output averaged 3.5m b/d last year as a sharp fall at the Tupi field, the largest in the Santos Basin pre-salt, together with an almost 15% slump from the post-salt, resulted in a minor decline. Pre-salt production has continued to ramp up offshore Brazil and 2025 is likely to be similar. The Brazilian Petroleum and Gas Institute (IBP) estimates output will increase by 6% in 2025, rising to 3.6m b/d for the full year, the direct result of several offshore production systems reaching startup. OPEC expects Brazil to be among the main growth drivers of the global oil market in 2025. “The Brazilian
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