In July, 3.255 million barrels of oil equivalent per day were produced in the country, with extraction levels going up for both commodities.
Oil and Gas
The Brazilian oil company and its Norwegian counterpart entered into a deal to expand a partnership for bidding in tenders for oil and gas exploration blocks, and technological development.
The facility in Pernambuco, Brazil put out over 3 million barrels of oil in July. Diesel and petroleum naphtha production also hit all-time highs.
Brazil produced 3.21 million barrels of oil equivalent per day in June, with 2.558 million of oil barrels and 103.5 million of cubic meters of natural gas.
The Brazilian state-run oil company is handing over its 66% stake in the block known as Carcará for USD 2.5 billion.
The company produced 2.9 million barrels of oil equivalent in June. Its previous all-time high had been in August of last year.
Brazil produced more than 3.1 million barrels of oil equivalent per day in May. Extraction in the pre-salt layer went up 15% and reached 1.15 million barrels a day.
Output was 2.83 million barrels on average, an increase of 5% over April and of 2% in comparison to May of last year.
On May 8, the Brazilian state-run oil company Petrobras surpassed 1 million oil barrels of oil equivalent (oil and natural gas) per day extracted in the pre-salt layer.
The advice comes from the International Monetary Fund to the Arab countries. According to the fund, the need is urgent due to oil’s low prices.