Brazil produced 1.2 billion barrels of oil equivalent in 2019. Rio de Janeiro was the state that ed for the largest share.
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Brazilian president said that, although prices are high, they tend to remain stable, despite the US strike in Iraq last Friday.
Brazilian president said that the bombing in Baghdad, Iraq that killed Iranian military leader, will impact prices in Brazil but ruled out tabulation.
Oil production in the country went past the 3-million-barrel mark for the first time at 3.09 million barrels per day in November.
The Saudi Arabian state-run oil company’s initial public offering outdid that of China’s Alibaba. At an estimated market value of USD 1.7 trillion, Aramco is worth more than Apple.
Output climbed 9.3% for oil and gas, and 3% for oil and gas products quarter-on-quarter.
The organization estimates that the volume will grow by 1.14 million barrels per day from 2019 level.
Chevron bought the refinery for USD 526 million.
The funds originated from Pré-Sal Petróleo (PPSA), a company d with the Brazilian Ministry of Mines and Energy.
The company purchased 157,000 barrels per day in the first nine months of this year, up 34,000 from a year ago. Domestic demand picked up while local output diminished.
The aim of these investments throughout the next few years is to maintain and even expand the country’s spare oil production capacity.
The National Agency of Petroleum, Natural Gas and Biofuels (ANP) has approved four measures to encourage onshore and shallow-water operations.
August saw 111.6 million barrels of oil shipped from the Arab country, up 12% from a year ago, the Ministry of Petroleum reported.
Brazil’s oil regulator published, this Friday (10), the rules for the 5th Oil and Gas Bidding Round under the Production Sharing Regime.
