Thursday, December 1, 2022

Brazil produced record oil and natural gas in October

Brazil produced a record average of 4,179 million barrels of oil and natural gas equivalent per day in October, achieving a record result for the second consecutive month, the National Petroleum Agency (ANP, regulator) reported.

The volume of hydrocarbons extracted by Brazil in October is 3.26% higher than in September (4,047 million barrels per day) and allows the Latin American giant to exceed the bar of 4 million per day for the fourth month in its history.

In comparison with the same month last year (3,606 million barrels per day), the average production of oil and natural gas in Brazil in October jumped 15.89%, according to data released by the regulatory agency.

Oil production alone in October was 3,243 million barrels per day, with a growth of 3.05% compared to September and 16.78% compared to the same month in 2021.

It is also the largest oil production in the history of Brazil and exceeds that of January 2020 (3,168 million barrels per day), before the covid pandemic caused a crisis in the sector with the stoppage of some offshore oil platforms. production.

Regarding natural gas, production in October was also a record, with 148.7 million cubic meters per day, a volume 1.98% higher than that of September, which was the highest up to now, and 12.9% higher than that of September. same month last year.

The data disclosed by the ANP refers to the production registered by the 42 companies that operate in the country and that have rights to 278 different blocks, including 265 concessions and eight areas in which they are associated with the State.

Of what was extracted by Brazil in October, 3,140 million barrels per day, equivalent to 75.18% of the total, came from the pre-salt, the exploitation horizon located in very deep waters of the Atlantic Ocean below a layer of salt two kilometers thick. .

The gigantic pre-salt reserves may help Brazil rise from ninth place on the list of the world’s largest hydrocarbon producers to fifth.

Brazil’s state oil company Petrobras remained the leader in October, with about 85% of all oil extracted by Brazil and 67% of all natural gas.

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