The oil and gas sector continues to be one of the most dynamic in the Brazilian economy. In October 2025, national oil production reached an all-time high, exceeding 4 million barrels per day. Oil remains the country’s main export, with revenues of $45 billion last year.
A study by the Brazilian Institute of Oil, Gas and Biofuels (IBP) predicts that the oil sector is expected to record a peak investment of $21.3 billion in 2026. National production is expected to reach 4.2 million barrels/day in 2028.
The IBP also projects a 34% increase in natural gas production by 2029, to 68 million cubic meters per day, on top of total government revenues (royalties, special contributions and taxes) of US$42.3 billion in 2029.
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