The state-owned company produced, on average, 2.14 million daily oil barrels last year, an increase of 0.75% over 2015.
Oil and Gas
Brazil produced, on average, 111.1 million cubic meters per day in November, an increase of 2.4% over October and 18% in comparison to November 2015.
The company’s refineries are now charging 8.1% more for gas and 9.5% more for diesel. The price raise was to align it with the increase in oil international prices.
Production in Brazil averaged 2.624 million barrels a day, gas included, up 9% from October 2015. In October from September, however, output was down 1.8%.
The organization approved a 4.5% cut starting January 2017. The commodity prices climbed by around 8% in the United States and London.
Throughout the next four years, the amount will be directed to projects the company already has a stake in.
The state-owned oil company shipped 89 million tons of oil equivalent until the end of October, up 9% over the same period of 2015.
The Brazilian and French oil companies signed on to a memorandum of understanding for exploration and production of gas and energy.
The bank revised up from USD 53 to USD 55 its forecast on the average price per barrel for next year. The price of commodities in general should go up.
Prices will be down 3.2% for wholesale gasoline and 2.7% for diesel. Whether or not consumers will pay less for their fuel will be up to the retailers.
Brazil produced 3.3 million barrels of oil equivalent per day in August and surpassed record mark for the third consecutive month.
Márcio Félix, a secretary to the Brazilian Ministry of Mines and energy, spoke for the admission of partners to explore areas under concession since 2010 to the state-run oil company Petrobras.