Oil Firms Ask Brazil’s Regulator to Mothball 29 Fields

Brazil’s oil industry has requested 29 oilfields be mothballed so far, including 16 offshore and 13 onshore, with a total production of 65,000 barrels per day, as the sector struggles with lower demand amid the coronavirus outbreak, local regulator ANP said.

Twenty of the oilfields expected to be mothballed are in the process of being divested by Brazil’s state-run company Petrobras and were showing a decline in output, ANP director Marcelo Castilho said in a video briefing on Thursday.

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