Output in July reached its highest level ever for a single month, according to data
Oil and gas production in Brazil reached a record level for a single month in July, beating the previous record set in June, oil regulator ANP revealed this week.
Output totaled 4.48 million barrels of oil equivalent per day last month, data showed. Crude production alone rose by 18.6% on a yearly basis to 3.51 million barrels per day (bpd).
Natural gas production climbed by 13.6% to 154.08 million cubic meters per day, the regulator added.
Private oil companies will boost Brazil’s crude production by as much as 75% from 1.221 million bpd this year to 2.123 million bpd by 2030, research and consultancy group Wood Mackenzie previously predicted.
International oil majors such as Shell, Equinor, TotalEnergies, Repsol Sinopec Brasil S.A., and Petrogal are expected to be among the top producers due to their partnerships with state-run Petrobras in pre-salt fields, according to Wood Mackenzie.
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