Photo: screengrab from the official website of Brasil 247

By Brasil 247 - Brazil's oil and gas sector continues to hold a central position in the country's economy and remains on an expansion path. According to a study by the Brazilian Institute of Oil, Gas and Biofuels (IBP), investments in the oil sector are expected to peak in 2026, reaching an estimated $21.3 billion. The data were reported by Brasil 247.

In October 2025, Brazil's oil production reached a historic record by surpassing 4 million barrels per day, reinforcing the country's strategic role in the global energy market. Oil also remained Brazil's leading export product, generating $45 billion in revenue last year.

IBP projections indicate that Brazilian oil production could reach around 4.2 million barrels per day by 2028. In the natural gas segment, growth is expected to be even stronger, with production projected to increase by 34% by 2029, when daily output may reach 68 million cubic meters.

Beyond its direct impact on economic activity, the expansion of the oil and gas sector is also expected to strengthen public finances. The study estimates that total government revenue, including royalties, special participation payments and taxes, could reach $42.3 billion by 2029.

(Reported by Brasil 247 on Jan 1, 2026)