Brazil’s oil output fell 1.21% in November from October, regulator ANP said on Jan. 2, after state-run oil company Petróleo Brasileiro SA (NYSE: PBR) carried out maintenance work at some production units.
ANP said oil output was 2.595 million barrels perday (MMbbl/d) of oil in November. Natural gas production was 113 million cubic meters per day, compared with 115 million in October.
Crude production in the pre-salt area, where oil is trapped under a layer of salt beneath the ocean floor off Brazil’s eastern coast, ended November at 1.3 MMbbl/d, the data showed. Pre-salt natural gas production was 51.7 million cubic meters.
Brazilian oil exports rose nearly 25% to 51.96 million tonnes in 2017 compared with the prior year, Brazilian government data showed on Jan. 2.
In December, crude exports rose 15% to 3.03 million tonnes from the same period a year earlier, after registering exports of just 2.53 million tonnes in November, the weakest month last year.
Recommended Reading
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-26 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
NOV Announces $1B Repurchase Program, Ups Dividend
2024-04-26 - NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Initiative Equity Partners Acquires Equity in Renewable Firm ArtIn Energy
2024-04-26 - Initiative Equity Partners is taking steps to accelerate deployment of renewable energy globally, including in North America.
Repsol to Drop Marcellus Rig in June
2024-04-26 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
Ithaca Deal ‘Ticks All the Boxes,’ Eni’s CFO Says
2024-04-26 - Eni’s deal to acquire Ithaca Energy marks a “strategic move to significantly strengthen its presence” on the U.K. Continental Shelf and “ticks all of the boxes” for the Italian energy company.