Home Business Brazil’s Oil Production Slips, Oil Exports Up 25%

Brazil’s Oil Production Slips, Oil Exports Up 25%



Brazil’s oil output fell 1.21% in November from October, National Oil Agency (ANP) said on Jan. 2th, after state-run oil company Petroleo Brasileiro SA (NYSE: PBR) carried out maintenance work at some production units.

National Oil Agency 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.