Oil production in Brazil declines in February after breaking record in January, says ANP

Mar 25, 2020

Brazil’s oil production totaled 2.97 million barrels per day (bpd) in February, down 6.2% from a record in January, but still up 19% from the same month in 2019. , pointed out data published by the National Petroleum, Natural Gas and Biofuels Agency (ANP) on its website.

The contraction compared to the previous month occurs at a time when Petrobras, the largest producer in Brazil, announced that it would begin to intensify scheduled stops at oil and gas production platforms scheduled for the first half of this year.

In February, Petrobras also went through a strike by oil tankers that lasted about 20 days, but which the company said had no effect on its production.

Brazil’s oil and gas production in February was 3.79 million barrels of oil equivalent per day (boe / d), after having surpassed the figure of 4 million boe / d in January. Compared to February 2019, there was an increase of 19%.

Considering only natural gas, production in February totaled 129.81 million cubic meters of natural gas per day, a decrease from the record 138.75 million m3 / d in January and an increase against 110.15 million m3 / d February 2019.

Of the total oil produced by the country, Petrobras as a concessionaire accounted for 2.14 million bpd, according to data from the ANP Dynamic Panel, compared to 2.32 million bpd in the previous month and 1.8 million bpd in February last year.

Despite the decrease compared to the previous month, Petrobras previously reported having exported a record volume of oil in February, exceeding the level of 690 thousand barrels per day, despite the coronavirus pandemic, which had already threatened global demand for the commodity.

Shell, the second producer in the country, accounted for the production of 377.5 thousand bpd last month, compared to 392.13 thousand bpd in January and 340.19 thousand bpd in February 2019.

Source: TNPetroleo

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