Friday, 17 September 2010

Brazil's crude output reaches record levels

Brazil's National Petroleum Agency (ANP) has said that domestic crude oil output reached record levels in August, as offshore oil installations continued to boost productivity. The country produced 2.078 million b/d in August, up from 2.056 million in July. Production figures for August topped the record of 2.077 million b/d set in April.

Combined domestic crude oil and natural gas production also made record figures in August, reaching 2.471 million barrels of oil-equivalent a day, up from 2.448 million barrels of oil-equivalent a day in July.

August was the first month that the ANP released production figures for Brazil's offshore and inland oil fields. ANP's Director Victor Martins said the agency will now release production figures on a monthly basis in order to, “increase transparency in the agency's activities”.

Source: Wall Street Journal

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